Pharma BD Deal Intelligence

ImmunoScape Pte. Ltd. / Cue Biopharma, Inc.

2025 · Licensing/Option · Complete

Cue Biopharma and ImmunoScape announced a collaboration and license agreement under which ImmunoScape will develop a Seed-and-Boost in vivo cell therapy approach for solid tumors, combining Cue Biopharma's IL-2-based Immuno-STAT T-cell engagers (CUE-100 series) with ImmunoScape's proprietary tumor-specific TCRs. Cue Biopharma receives USD 15 million in total upfront payments (USD 10 million in Q4 2025 and USD 5 million in November 2026), a 40% equity stake in ImmunoScape, and high-single-digit royalties on net sales.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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