GlaxoSmithKline (GSK) and Immatics Biotechnologies, a Germany-based clinical-stage biopharmaceutical company focused on the discovery and development of T-cell redirecting cancer immunotherapies, announced on Feb. 20, 2020 that they have entered into a strategic collaboration agreement to develop novel adoptive cell therapies targeting multiple cancer indications for over $550 million. Through the agreement, Immatics will receive an upfront payment of $45 million for two preliminary programs and is qualified to receive $550 million in development, regulatory, and commercial milestone payments for each product and additional royalty payments, according to an Immatics press release. GSK will have the option to choose further target programs to include in the partnership, and Immatics is authorized to receive option, milestone, and royalty payments for each added program.