On December 3, 2024 Medigene AG (Medigene or the "Company", FSE: MDG1, Prime Standard), an oncology platform company focused on the research and development of T cell receptor (TCR)-guided therapies for the treatment of cancer, reported a USD $1 million milestonepayment from Regeneron Pharmaceuticals, Inc. was triggered (Press release, MediGene, DEC 3, 2024, View Source [SID1234648766]). Regeneron purchased the MAGE-A4-TCR program as part of its acquisition of2seventy bio Inc.’s pre-clinical and clinical oncology and autoimmune cell therapy pipeline, which closed in April 2024. The payment was triggered by a development milestone for a trial in China led by JW Therapeutics (also a prior collaborator of 2seventy bio, Inc.) of Regeneron’s MAGE-A4 cell therapy, which contains a Medigene generated T cell receptor (TCR) targeting MAGE-A4.

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"We are excited that this program is moving forward, incorporating our TCR directed at MAGE-A4 into the clinic and potentially providing the first clinical validation of our unique TCR discovery and generation capabilities and our End-to-End Platform technologies," said Dr. Selwyn Ho, Chief Executive Officer of Medigene. "We look forward to the results of this trial and remain committed to delivering best-in-class, differentiated T cell receptors for use in multiple TCR-guided therapies for patients with solid tumors."

This payment has been included in the current financial guidance provided by the Company, and therefore confirmation of this milestone does not change 2024 guidance.