Adaptimmune Therapeutics (ADAP) 2024 Wells Fargo Healthcare Conference summary

Company overview and strategic direction

• Focused on engineered TCR therapies for solid tumors, with a fully integrated approach from research to commercialization.

• Achieved FDA approval for Tecelra, the first engineered cell therapy for a solid tumor, targeting MAGE-A4 in sarcoma.

• Plans to expand treatment centers from 6–10 initially to 30, aiming to cover about 80% of eligible patients.

• Sarcoma franchise in the US launch indications is projected as a $400 million peak sales opportunity.

• Pipeline includes lete-cel for additional sarcoma subtypes and uza-cel for ovarian and head and neck cancers.

Product launch and patient journey

• High anticipation for Tecelra among synovial sarcoma physicians and patients, with first infusions expected in Q4.

• Patient journey includes parallel HLA and MAGE-A4 testing, insurance clearance, leukapheresis, and a 6–8 week manufacturing process.

• Sponsored testing enables broad patient access and supports a national referral network.

• Initial payer journey may be slow but expected to accelerate as policies are established.

• Majority of patients are expected to have commercial insurance, with Medicare and Medicaid coverage developing over time.

Commercialization, pricing, and reimbursement

• Tecelra is priced at $727,000 per treatment, justified by the rarity and lack of alternatives for the disease.

• Positive payer reactions so far, with anticipated coverage for both commercial and Medicare patients.

• Updates on apheresis and treatment center onboarding will be provided quarterly as leading indicators of uptake.

• Full network of 30 centers expected to cover about 80% of eligible sarcoma patients.