Cell Therapy Partnership Strategy

A Ten-Part Series for Strategic Acquirers

Cell therapy is transforming oncology and autoimmune disease treatment. For pharmaceutical companies and investors, the challenge is not whether to engage with cell therapy—the market opportunity is clear—but how to structure partnerships that create lasting value.

This series examines what distinguishes successful cell therapy partnerships, how manufacturing drives competitive advantage, and how to position for the field's ongoing evolution.

The Series

Part 1: What the Best Cell Therapy Partnerships Have in Common

Five characteristics that separate partnerships creating lasting value from those that don't: manufacturing mastery, platform recognition, cost trajectory alignment, stage-appropriate structures, and geographic complementarity.

Part 2: The Integration Edge

Why vertical integration of design and manufacturing creates sustainable competitive advantage in cell therapy—lessons from the semiconductor industry's transformation.

Part 3: Three Manufacturing Strategies That Work

In-house manufacturing, CDMO partnerships, or strategic manufacturing alliances—choosing the right model for your stage, volume trajectory, and differentiation strategy.

Part 4: Platform vs. Product

Platform acquisitions and product acquisitions require fundamentally different valuation approaches. A framework for getting this critical distinction right.

Part 5: Speed-to-Patient as Competitive Advantage

Vein-to-vein time affects T-cell phenotype, patient access, and commercial economics. Why manufacturing speed is emerging as the critical differentiator.

Part 6: CAR-T Generations: A Practical Guide

Generation number is less predictive of clinical success than specific design choices. Separating genuine innovation from marketing claims.

Part 7: Solid Tumor CAR-T

The highest-risk, highest-potential opportunity in cell therapy. What early movers are getting right with regional delivery and tumor microenvironment engineering.

Part 8: Beyond Autologous

Building a multi-modal cell therapy portfolio across autologous, allogeneic, CAR-NK, and in vivo platforms.

Part 9: Deal Architectures from Landmark Partnerships

From Legend-Janssen profit-sharing to AstraZeneca-Gracell platform acquisition—structures that align incentives and create value.

Part 10: Strategic Entry Points for New Cell Therapy Acquirers

A framework for latecomers. Cell therapy is not a closed market—new targets, manufacturing innovations, and modality evolution continue to create entry points.

Key Themes

Manufacturing determines winners. Cell therapy manufacturing is not a commodity. Partners who control both CAR design and production capture advantages that licensing arrangements cannot replicate.

Platform value exceeds product value. Companies with reusable manufacturing and design capabilities generate multiple candidates across targets and indications—dramatically different risk profiles than single-asset transactions.

Speed compounds. Manufacturing time affects T-cell phenotype, patient dropout, and commercial economics. Partners demonstrating manufacturing acceleration have operational DNA that transfers across modalities.

Deal structure must match asset stage. The most successful partnerships align economics with actual risk distribution. Bridging option structures, milestone timing, and territory scope all require calibration to development stage.

Geographic complementarity accelerates execution. Cell therapy regulatory pathways differ substantially across jurisdictions. Partners with genuine multi-market expertise move faster than those relying on contracted consultants.

For advisory on cell therapy partnership strategy, contact Kerlann Advisory.