On December 26, 2023 Immunome, Inc. (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, reported that it entered into a definitive asset purchase agreement with Atreca, Inc. (Nasdaq: BCEL) to acquire a collection of antibody-related assets and materials (Press release, Immunome, DEC 26, 2023, View Source [SID1234638800]).

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"We believe that novel and underexplored targets will drive the next generation of transformative ADCs. These antibody-related assets will expand our toolbox, complementing our existing programs as we advance our mission of developing innovative treatments for cancer patients," stated Clay B. Siegall, Ph.D., Chairman and Chief Executive Officer of Immunome.

Under the terms of the asset purchase agreement, Immunome would pay Atreca a $5.5 million upfront payment and up to $7.0 million in clinical development milestones. Completion of the transaction is subject to customary conditions including Atreca obtaining a required stockholder vote.