Shares of TScan Therapeutics Inc. TCRX powered up 43.1% in premarket trading Tuesday, after the biopharmaceutical company announced a collaboration with Amgen Inc. AMGN to treat Crohn’s disease that could be worth more than $500 million to TScan. Amgen shares slipped 0.1% ahead of the open. Under terms of the collaboration, TScan will receive a $30 million upfront payment, and will be eligible to receive more than $500 million in clinical, regulatory and commercial milestone and royalty payments. The multi-year collaboration will use TScan’s TargetScan to identify antigens recognized by T cells in patients with Crohn’s disease. “We’re excited to apply our target discovery platform to the autoimmunity space,” said TScan Chief Executive Officer Gavin MacBeath. TScan’s stock has run up 45.1% year to date through Monday, while the iShares Biotechnology exchange-traded fund IBB has slipped 0.3% and the S&P 500 SPX has gained 7.8%.
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