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2016-02-02

Adaptimmune Therapeutics plc: Adaptimmune and GSK Expand Strategic Immunotherapy Collaboration

* Agreement accelerates development of Adaptimmune's lead T-cell therapy
targeting NY-ESO-1 toward pivotal trials
* Creates opportunity for up to eight combination studies

LONDON, PHILADELPHIA and OXFORD, United Kingdom, Feb. 02, 2016 (GLOBE
NEWSWIRE) -- Adaptimmune Therapeutics plc (Nasdaq:ADAP), a leader in the use
of T- cell receptor (TCR) engineered T-cell therapy to treat cancer, and
GlaxoSmithKline plc (LSE:GSK) (NYSE:GSK) today announced that the companies
have expanded the terms of their strategic collaboration agreement to
accelerate Adaptimmune's lead clinical cancer program, an affinity enhanced
T-cell immunotherapy (GSK3377794) targeting NY-ESO-1, toward pivotal trials
in synovial sarcoma.

Adaptimmune and GSK announced a strategic collaboration and licensing
agreement in June 2014 for up to five programs, including the lead NY-ESO TCR
program. GSK has an option on the NY-ESO-1 program through clinical proof of
concept and, on exercise, will assume full responsibility for the program.

"We are delighted to broaden our collaboration with GSK, which is also fully
committed to the development of this revolutionary T-cell therapy," commented
James Noble, Adaptimmune's Chief Executive Officer. "We believe that our
affinity enhanced T-cell programs have the potential to deliver important
clinical benefit to cancer patients, and it is therefore essential that we
accelerate our efforts to meet their needs. We are working closely with GSK
to expedite development of our affinity enhanced T-cell therapy targeting
NY-ESO, and if we succeed in generating pivotal data consistent with that of
our ongoing studies, we believe it has the potential to be the first
engineered T-cell therapy to reach the market."

Dr. Axel Hoos, SVP Oncology R&D GSK said, "At GSK we're progressing a pipeline
of immuno-oncology therapies to stimulate anti-tumor immunity in patients. As
we highlighted to investors at our R&D event last year, this Adaptimmune
collaboration is a key element of that pipeline and is part of a
comprehensive program for cell and gene therapy. With this expanded
collaboration, we have the opportunity to accelerate the lead program in
synovial sarcoma toward pivotal trials and also to investigate several other
tumor types and combine the T-cell therapy with immune-modulating therapies
such as checkpoint inhibitors."

Under the terms of the expanded agreement, the companies will accelerate the
development of Adaptimmune's NY-ESO therapy into pivotal studies in synovial
sarcoma and will explore development in myxoid round cell liposarcoma.
Additionally, the companies may initiate up to eight proof-of-principle
studies exploring combinations with other therapies, including checkpoint
inhibitors.

According to the expanded development plan, the studies will be conducted by
Adaptimmune with GSK effectively funding the pivotal studies and sharing the
costs of the combination studies via a success based milestone structure.

Previous guidance relating to the collaboration disclosed potential cash
payments to Adaptimmune of approximately $350m over the first 7 years from
2014 in relation to NY-ESO and two further programs. Given the changes
announced today, and the advances made across the collaboration, Adaptimmune
is updating and expanding this disclosure. Under the terms of the expanded
agreement, the potential development milestones Adaptimmune is eligible to
receive solely in relation to the NY-ESO program could amount to
approximately $500 million, excluding previously received payments, if GSK
exercises its option and successfully develops NY-ESO in more than one
indication and more than one Human Leukocyte Antigen (HLA) type. In
addition, Adaptimmune would receive tiered sales milestones and, as
previously disclosed, mid-single to low double digit royalties on worldwide
net sales. GSK has the right to nominate up to four additional targets in due
course and Adaptimmune is eligible to receive further significant undisclosed
milestone payments in relation to these earlier stage target programs.

Adaptimmune has also reiterated its prior cash burn guidance, which remains
unchanged as the majority of the expansion and acceleration costs will be
funded by GSK. For the full year 2016, the company expects its cash burn to
be between $80 and $100 million, excluding cash burn associated with business
development activities, and expects its cash position at December 31, 2016,
including cash, cash equivalents, and short term deposits, to be at least
$150 million.

About
affinity enhanced T-cell candidates

Adaptimmune's affinity enhanced T-cell candidates are novel cancer
immunotherapies that have been engineered to target and destroy cancer cells
by strengthening a patient's natural T-cell response. Using its proprietary
technology, Adaptimmune has created a pipeline of affinity enhanced T-cell
therapies targeting certain antigens, including cancer testis antigens such
as NY-ESO. NY-ESO-1 is one of the best-characterized and most immunogenic
cancer testis antigens, and is frequently expressed by tumors of different
origins and in advanced tumors. The company's trials in the NY-ESO-1 program
in multiple myeloma, melanoma, sarcoma and ovarian cancer continue to
generate encouraging results.

About Adaptimmune

Adaptimmune is a clinical stage biopharmaceutical company focused on novel
cancer immunotherapy products based on its T-cell receptor (TCR) platform.
Established in 2008, the company aims to utilize the body's own machinery -
the T-cell - to target and destroy cancer cells by using engineered,
increased affinity TCRs as a means of strengthening natural patient T-cell
responses. Adaptimmune's lead program is an affinity enhanced T-cell therapy
targeting the NY-ESO cancer antigen. Its NY-ESO TCR affinity enhanced T-cell
therapy has demonstrated signs of efficacy and tolerability in Phase 1/2
trials in solid tumors and in hematologic cancer types, including synovial
sarcoma and multiple myeloma. In addition, Adaptimmune has a number of
proprietary programs. The company has identified over 30 intracellular target
peptides preferentially expressed in cancer cells and is currently
progressing 12 through unpartnered research programs. Adaptimmune has over
200 employees and is located in Oxfordshire, U.K. and Philadelphia, USA. For
more information:http://www.adaptimmune.com

GSK
- one of the world's leading research-based pharmaceutical and healthcare
companies - is committed to improving the quality of human life by enabling
people to do more, feel better and live longer. For further information
please visit www.gsk.com.

Cautionary statement regarding forward-looking statements

GSK cautions investors that any forward-looking statements or projections made
by GSK, including those made in this announcement, are subject to risks and
uncertainties that may cause actual results to differ materially from those
projected. Such factors include, but are not limited to, those described
under Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for
2014.

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 (PSLRA).

These forward-looking statements involve certain risks and uncertainties. Such
risks and uncertainties could cause our actual results to differ materially
from those indicated by such forward-looking statements, and include, without
limitation: the success, cost and timing of our product development
activities and clinical trials and our ability to successfully advance our
TCR therapeutic candidates through the regulatory and commercialization
processes. For a further description of the risks and uncertainties that
could cause our actual results to differ materially from those expressed in
these forward-looking statements, as well as risks relating to our business
in general, we refer you to our Annual Report on Form 20-F filed with the
Securities and Exchange Commission on October 13, 2015. The forward-looking
statements contained in this press release speak only as of the date the
statements were made and we do not undertake any obligation to update such
forward-looking statements to reflect subsequent events or circumstances.

Adaptimmune Contacts

Will Roberts
Vice President, Investor Relations
T: (215) 825-9306
E: will.roberts@adaptimmune.com

Margaret Henry
Head of PR
T: +44 (0)1235 430036
Mob: +44 (0)7710 304249
E: margaret.henry@adaptimmune.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Adaptimmune Therapeutics plc via Globenewswire

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