Seattle-based biotech Adaptive Biotechnologies Corp. (Nasdaq: ADPT) has inked a royalty financing agreement with health care investment firm OrbiMed worth up to $250 million.
Through the agreement, announced Monday, Adaptive will receive an initial $125 million in exchange for OrbiMed receiving 5% of Adaptive’s revenue. Adaptive can receive an additional $75 million for 8% of its revenue and another $50 million, earmarked for potential merger and acquisition deals, for 10%.
