ALPMY - Astellas unit to pay $20.5M upfront to GO Therapeutics in collaboration to discover cancer therapies

Astellas Pharma's (OTCPK:ALPMY) (OTCPK:ALPMF) unit Xyphos Biosciences and GO Therapeutics are collaborating to develop novel immuno-oncology therapies. Astellas said GO is applying new advances in glycoproteomics to develop antibody-based cancer therapies that specifically target cancer cells, while Xyphos has proprietary ACCELTM technology platform which uses its convertibleCAR (convertible Chimeric Antigen Receptor) on immune cells. Under the agreement, the two companies will collaborate to  identify novel antibodies with high affinity to two different glycoprotein targets and apply these antibodies to a range of therapeutic modalities. GO will lead the partnership to discover high-affinity antibodies against the two targets, and Astellas will be responsible for research activities, clinical development and commercialization of the therapies derived from the antibodies. Xyphos will pay GO $20.5M upfront in cash, while milestone and contingency payments could total up to an additional $763M.

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Astellas unit to pay $20.5M upfront to GO Therapeutics in collaboration to discover cancer therapies