CytomX Therapeutics Announces Technology Acquisition From Agensys, Inc., an Affiliate of Astellas Pharma Inc.
January 07 2019 - 8:00AM
CytomX Therapeutics, Inc. (Nasdaq:CTMX), a clinical-stage
oncology-focused biopharmaceutical company pioneering a novel class
of investigational antibody therapeutics based on its Probody™
therapeutic technology platform, today announced it has acquired
drug conjugate linker-toxin and CD3-based bispecific technologies
from Agensys, Inc., an affiliate of Astellas Pharma Inc. Under the
terms of the agreement, CytomX will pay Astellas a one-time,
up-front payment.
“The clinical progress we reported throughout 2018 provided
initial proof of concept for our Probody therapeutic platform. This
transaction with Astellas provides us with novel payloads and CD3
binding moieties for our next wave of potent anti-cancer agents
that leverage our technology, including Probody drug conjugates and
Probody T cell engaging bispecifics,” said W. Michael Kavanaugh,
M.D. chief scientific officer and head of research and non-clinical
development at CytomX.
About CytomX Therapeutics
CytomX Therapeutics is a clinical-stage oncology-focused
biopharmaceutical company pioneering a novel class of
investigational antibody therapeutics based on its Probody™
therapeutic technology platform. Probody therapeutics are designed
to exploit unique conditions of the tumor microenvironment to more
effectively localize antibody binding and activity while limiting
activity in healthy tissues. CytomX and its partners have four
programs in the clinic. The Company’s pipeline includes
cancer immunotherapies against clinically-validated targets,
including a PD-L1-targeting Probody therapeutic wholly owned by
CytomX (CX-072), a PD-1-targeting Probody therapeutic wholly owned
by CytomX (CX-188) and a CTLA-4-targeting Probody therapeutic
partnered with Bristol Myers Squibb (BMS-986249). The pipeline also
includes first-in-class Probody drug conjugates against highly
attractive targets including a CD166-targeting Probody drug
conjugate wholly owned by CytomX (CX-2009), and a CD71-targeting
Probody drug conjugate partnered with AbbVie (CX-2029). CD166 and
CD71 are among cancer targets that are considered to be
inaccessible to conventional antibody drug conjugates due to their
presence on many healthy tissues. In addition to its wholly owned
programs, CytomX has strategic collaborations with AbbVie, Amgen,
Bristol-Myers Squibb Company and ImmunoGen, Inc. For more
information, visit www.cytomx.com.
CytomX Therapeutics Forward-Looking
Statements
This press release includes forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that are difficult to
predict, may be beyond our control, and may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied in such statements. Accordingly, you should not rely on any
of these forward-looking statements, including those relating to
the potential benefits, safety and efficacy of CytomX’s or any of
its collaborative partners’ product candidates, administered
separately or in combination, CytomX’s ability and the ability of
its collaborative partners to develop and advance product
candidates into and successfully complete clinical trials,
including CytomX’s Phase 1/2 clinical trials of CX-072, CX-2009 and
CX-2029, the timing of any future clinical trials to be initiated
by CytomX or any of its collaborative partners, including a
clinical trial for CX-188, CytomX’s expectations regarding the
availability of clinical data, including data from the ongoing
clinical trial of CX-2009, CytomX’s expectations with respect to
its collaborations, and CytomX’s expectations regarding the timing
of potential regulatory filings. Risks and uncertainties that
contribute to the uncertain nature of the forward-looking
statements include: three of CytomX’s product candidates under its
Probody platform are in the initial stages of clinical development
and its other product candidates are currently in preclinical
development, and the process by which preclinical and clinical
development could potentially lead to an approved product is long
and subject to significant risks and uncertainties; the possibility
that the results of early clinical trials may not be predictive of
future results; the possibility that CytomX’s clinical trials will
not be successful; CytomX’s dependence on the success of CX-072,
CX-2009 and CX-2029; CytomX’s reliance on third parties for the
manufacture of the company’s product candidates; and possible
regulatory developments in the United States and foreign
countries. Projected net cash utilization and capital
resources are subject to substantial risk of variance based on a
wide variety of factors that can be difficult to predict.
Additional applicable risks and uncertainties include those
relating to our preclinical research and development, clinical
development, and other risks identified under the heading "Risk
Factors" included in CytomX’s Quarterly Report on Form 10-Q filed
with the SEC on November 6, 2018. The forward-looking statements
contained in this press release are based on information currently
available to CytomX and speak only as of the date on which they are
made. CytomX does not undertake and specifically disclaims any
obligation to update any forward-looking statements, whether as a
result of any new information, future events, changed circumstances
or otherwise.
Contact:
Investors and Media:
Christopher Keenan VP, Investor Relations and Corporate
Communications ckeenan@cytomx.com 650-383-0823
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