[Alpha Biz= Reporter Kim Sangjin] GC Cell's U.S. affiliate, Artiva Biotherapeutics, has terminated its joint research and development agreement for the 'Chimeric Antigen Receptor-Natural Killer' (CAR-NK) therapy with MSD, a global pharmaceutical and biotech company, which was originally signed in 2021.
GC Cell announced on the 25th that "MSD, the main sponsor of the agreement, has decided to terminate the joint research and development agreement with Artiva," and added, "As a result of this agreement termination, Artiva has notified GC Cell of the termination of their research service contract."
Furthermore, GC Cell stated, "Artiva has completed the research services during the contract period, and therefore, the upfront payment of $15 million received does not require repayment."
Previously, in January 2021, GC Cell successfully secured a $2 billion technology export deal with MSD in collaboration with Artiva. The total contract value, contingent upon successful development, was $1.86 billion.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
