Immunocore, an Oxford-based biotechnology company developing novel biological drugs known as ImmTACs to treat cancer and viral disease, has entered a research collaboration and licensing agreement with Genentech, a member of the Roche Group, for the discovery and development of multiple novel cancer targets using Immunocore's ImmTAC technology.

Immunocore will receive an initiation fee of $10 million to $20 million per program and is eligible to receive more than $300 million in development and commercial milestone payments for each target program and tiered royalties.

ImmTACs exploit the power of T Cell Receptors (TCRs) to recognize intracellular changes that occur during cancer or viral infection. TCRs provide the ability to develop targeted therapies for cancers that are currently poorly served. ImmTACs can be directed to target and destroy only the cancerous cells, avoiding damage to healthy cells.