Amgen terminates Crohn's disease collaboration with TScan Therapeutics

TScan Therapeutics disclosed in an 8-K that on August 12, 2026, the company received notice from Amgen Inc. of its election to terminate, in its entirety, the Research Collaboration and License Agreement dated May 8, 2023, using Amgen's right under the agreement to terminate upon 90 days' prior written notice.¹ The termination will be effective 90 days following delivery of the notice, or November 10, 2026.¹ No early termination penalty is payable by TScan in connection with the termination.¹

Under the original agreement, TScan and Amgen collaborated to use TScan's proprietary target discovery platform to identify antigens recognized by T-cells in patients with Crohn's disease.¹ The agreement had granted Amgen an exclusive, worldwide, sublicensable license to develop and commercialize product candidates created during the collaboration.¹ Financial terms included a non-refundable upfront payment of $30.0 million to TScan, received in 2023, potential success-based milestone payments of over $500 million in the aggregate, and tiered single-digit royalty payments on net sales of any resulting products.¹

Following notice of termination, TScan is obligated to use commercially reasonable efforts to promptly and efficiently wind down its activities under the then-current research plan.¹ Upon the effective date of termination, the licenses granted under the agreement will terminate according to its terms.¹ TScan said it does not expect to receive future milestone or royalty payments under the agreement unless Amgen or its affiliates or sublicensees continue to exploit product candidates, in which case applicable milestone and royalty obligations would survive under the agreement's terms.¹