Pharma BD Deal Intelligence
AstraZeneca entered an exclusive option and license agreement with Quell to develop engineered Treg cell therapies for autoimmune diseases (T1D and IBD). Quell received $85M upfront (cash + equity) and is eligible for over $2B in development/commercial milestones plus tiered royalties. Since signing, the alliance has advanced on both programs: in November 2024 AstraZeneca selected a lead Type 1 diabetes CAR-Treg candidate to progress, triggering a $10M milestone to Quell; in June 2025 AstraZeneca selected a lead IBD candidate and exercised its exclusive option to license it for further development and commercialization, triggering a second $10M payment. AstraZeneca leads CTA/IND-enabling studies and clinical development while Quell provides CMC support and GMP drug-product supply for first-in-human trials. The collaboration remains active as of mid-2025; no termination has been disclosed.