Shares of Immutep (ASX:IMM) rose 25% in recent Tuesday trade after the company said in a late Monday filing that its unit entered a partnership with a subsidiary of Indian firm Dr. Reddy's Laboratories.

The partnership covers the commercialization of Eftilagimod Alfa, the company's drug candidate for the treatment of non-small cell lung cancer, in all countries outside North America, Europe, Japan, and Greater China, the filing said.

Under the deal, the company will supply the product to Dr. Reddy's in the licensed markets, the filing added.

The company will also hold the global manufacturing rights to the product and retain all rights to the product in the key pharmaceutical markets, including North America, Europe, and Japan.

It will receive an upfront payment of $20 million from Dr. Reddy's, along with potential regulatory development and commercial milestone payments of up to $349.5 million.