GlaxoSmithKline and Immunocore agreed to collaborate in the discovery and development of drugs using the latter's ImmTACs technology. Immunocore will handle preclinical development and initial clinical studies while GSK will assume the remaining development and commercialization. GSK could pay Immunocore up to about $211 million in preclinical milestone fees and as much as about $297 million in development and commercial milestone payments plus sales royalties. Last month, Genentech and Immunocore formed a similar partnership.

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