BMY - Xencor and Bristol Myers Squibb ink technology license agreement

Xencor (XNCR) has entered into a technology license agreement with Bristol-Myers Squibb (BMY) for non-exclusive access to the company's Xtend Fc technology.The agreement looks to extend the half-life of a novel antibody combination therapy that is intended to neutralize the SARS-CoV-2 virus for treatment or prevention of COVID-19.Phase 1 clinical evaluation to assess dosing and safety of the antibody combination is being conducted by investigators at Rockefeller University Hospital, while the initial Phase 2 and 3 studies are being planned as part of the NIH ACTIV-2 trial examining treatment of infected outpatients.Under the terms of the agreement, Bristol Myers will have sole responsibility for supporting and advancing the research, development, regulatory and commercial activities for SARS-CoV-2 mAb Duo.Xencor is eligible to receive royalties from net sales of products including these antibodies.Xencor shares up nearly 3% premarket, while Bristol-Myers shares were trading up marginally.

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Xencor and Bristol Myers Squibb ink technology license agreement