Medigene AG announced that it has received a $3 million milestone payment from its partner 2seventy bio as part of its T cell receptor agreement in cancer immunotherapy, and which may lead to further potential milestone payments in the future. This payment follows the strategic alliance between 2seventy bio, and JW Therapeutics, with the initial focus on the development of 2seventy bio's MAGE-A4 program which employs a highly potent TCR discovered in collaboration with Medigene's proprietary end-to-end technology platform. 2seventy bio recently announced the initiation of a strategic partnership with JW Therapeutics with an initial focus of the collaboration being the development of 2seventy bio's MAGE-A4 cell therapy in mainland China, Hong Kong, and Macao.

The payment does not alter guidance on the cash runway of Medigene, which based on current planning, remains into Fourth Quarter 2024.