HOUSTON, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today announced it has entered into an asset purchase agreement under which The University of Texas MD Anderson Cancer Center will acquire Bellicum’s approximately 60,000-square-foot Houston facility, including manufacturing, office and laboratory space, for $15 million.
As part of the transaction, Bellicum also will enter into a master services agreement with MD Anderson. Following completion of the transaction, MD Anderson will operate the Houston facility for its own internal programs as well as to manufacture Bellicum’s GoCAR™ and other cellular therapy programs for clinical trials and potentially early commercial supply.
“After conducting a thorough evaluation of our manufacturing strategy, we pursued and structured this agreement with MD Anderson to serve the best interests of our patients, employees, partners, and shareholders,” said Rick Fair, President and Chief Executive Officer of Bellicum Pharmaceuticals. “The preferred supply agreement assures Bellicum’s access to cell therapy product supply while reducing our operating expenses. Bellicum’s corporate headquarters in Houston will remain the center of excellence for our research, process and analytical development, third-party manufacturing, and quality assurance functions.”
The sale of the manufacturing facility is expected to close in the first quarter of 2020. Transition activities are underway. Closing of the transaction is subject to several conditions, including consent of the building landlord. Approximately 35 employees currently employed at the facility will be employed by MD Anderson.
About Bellicum Pharmaceuticals
Bellicum is a clinical stage biopharmaceutical company striving to deliver cures through controllable cell therapies. The company’s next-generation product candidates are differentiated by powerful cell signaling technologies designed to produce more effective CAR-T and allogeneic cell therapies. Bellicum’s lead GoCAR-T® candidate, BPX-601, is designed to be a more efficacious CAR-T cell product capable of overriding key immune inhibitory mechanisms. More information can be found at www.bellicum.com.
