In an all-stock transaction, Adaptimmune Therapeutics will merge with TCR2 Therapeutics to create a preeminent cell therapy company focused on treating solid tumours. TCR2 stockholders will receive 1.5117 Adaptimmune ADS for each TCR2 share, with Adaptimmune and TCR2 stockholders owning approximately 75% and 25% of the combined company, respectively. The merger is likely to provide significant benefits for clinical development and product delivery, which will be supported by Adaptimmune’s SPEAR and TCR2’s TRuC-T cell technologies.