BioCentury
ARTICLE | Product Development

Extending Immunocore’s runway

How Immunocore’s $100M deal gives it enough runway to justify its lofty valuation

December 15, 2018 4:19 AM UTC

The $100 million upfront payment from Immunocore Ltd.’s most recent deal with Roche's Genentech Inc. unit gives it enough cash to read out pivotal data from lead program IMCgp100, a catalyst that could help justify its lofty valuation and open up additional financing opportunities.

However, the fact it needed the partnering cash to begin with highlights how high valuations and big raises aren’t guarantees of easy access to future financing. ...