TScan Therapeutics Announces Termination of Amgen Collaboration

What Happened TScan Therapeutics (TCRX) reported that on August 12, 2026 it received notice from Amgen Inc. that Amgen elected to terminate the Research Collaboration and License Agreement between the companies dated May 8, 2023. The termination will be effective 90 days after notice, on November 10, 2026. The collaboration focused on using TScan’s target discovery platform to identify antigens recognized by T‑cells in Crohn’s disease. No early termination penalty is payable by TScan.

Key Details

• Notice received: August 12, 2026; termination effective: November 10, 2026 (90 days after notice).
• Upfront payment: $30.0 million was paid to TScan in 2023.
• Potential remaining economics: success-based milestone payments of over $500 million in aggregate and tiered single‑digit royalties on net sales (these future payments are not expected unless Amgen or its affiliates/sublicensees continue to exploit any product candidates).
• Post‑notice obligations: TScan must use commercially reasonable efforts to promptly wind down activities under the then-current research plan; licenses under the agreement will terminate as provided.

Why It Matters For investors, the termination removes the active collaborative relationship with Amgen and may eliminate potential future milestone and royalty revenue tied to this agreement unless Amgen (or its affiliates/sublicensees) later exploit products arising from the collaboration. TScan has already received the $30 million upfront payment and faces no early termination fee, but future upside from this specific collaboration (the >$500M in milestones and royalties) is uncertain based on Amgen’s decision. The company disclosed the event in an 8‑K filed August 18, 2026.