XNCR - Xencor signs license agreement for cancer targeting bispecific antibodies
- Clinical-stage biotech Xencor, Inc. ( NASDAQ: XNCR ) and Irving, Texas-based molecular science company Caris Life Sciences unveiled a multi-year agreement on Tuesday to develop and commercialize XmAb bispecific antibodies targeted for the treatment of cancer patients.
- Per the terms of the option and license agreement, Caris will leverage its “Caris Discovery” drug discovery platform to identify targets for the bispecific antibody drug candidates.
- Xencor ( XNCR ) will gain the exclusive option to research, develop and commercialize products based on three targets developed under the collaboration.
- In return, Caris will be entitled to up to ~$120M in license fees, discovery, development, regulatory and sales-based milestones, in addition to an upfront payment.
- Separately, the company will receive royalties on the net sales of each product commercialized by Xencor ( XNCR ).
- Meanwhile, Caris will own the rights for molecular profiling and companion diagnostics for drug candidates that will be developed under the partnership.
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With only one Sell rating and 13 Buy ratings, Xencor ( XNCR ) has remained a favorite among Wall Street analysts.
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Xencor signs license agreement for cancer targeting bispecific antibodies