WXXWY - GSK inks licensing pact with WuXi Biologics for T cell engagers

• China-based WuXi Biologics ( OTCPK:WXXWY ) ( OTCPK:WXIBF ) announced an agreement with GSK ( NYSE: GSK ) on Thursday under which the U.K. pharma giant will obtain exclusive licenses for up to four T cell engaging (TCE) antibodies.
• The deal covers one preclinical bi-specific TCE antibody, which crosslinks tumor cells and T cells. GSK ( GSK ) will also have the option to team up with WuXi ( OTCPK:WXXWY ) for three additional bi-/multi- specific TCE antibodies.
• Per the terms, WuXi ( OTCPK:WXXWY ) will receive $40M upfront and up to $1.46B in additional payments for R&D, regulatory and commercial milestones related to the TCE antibodies developed by the company.
• WuXi ( OTCPK:WXXWY ) is also eligible for tiered royalties on net sales.
• “We are looking forward to enabling GSK to bring these potentially life-saving therapeutics to more patients worldwide,” Chris Chen, Chief Executive of WuXi Biologics( OTCPK:WXXWY ), remarked.
• Seeking Alpha contributor, The Value Pendulum recently issued a Hold rating on the company noting both positive short-term events and long-term concerns.

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