Xencor Regains Ex-U.S. Commercial Rights for Anti-Tumor Drug
January 07 2019 - 09:06AM
Dow Jones News
By Chris Wack
Xencor Inc. (XNCR) said Monday it will regain rights to develop
and commercialize XmAb13676, a CD20 x CD3 bispecific antibody, from
Novartis (NVS) effective June 20, 2019, due to strategic pipeline
reprioritization by Novartis.
The biopharmaceutical company granted Novartis co-development
and ex-U.S. commercial rights in June 2016 through a collaboration
and license agreement to develop and commercialize novel bispecific
antibodies, including XmAb13676 and XmAb14045, and to access
Xencor's XmAb bispecific Fc and other Fc technologies.
Xencor said in a release that XmAb13676 is currently being
evaluated in an open-label Phase 1, multiple-dose, dose-escalation
study to assess its safety, tolerability and preliminary anti-tumor
activity in patients with B-cell malignancies, and initial data are
expected in 2019.
Under the terms of the collaboration agreement, Xencor and
Novartis will continue to share costs for the worldwide development
of XmAb14045 with Xencor maintaining U.S. commercialization rights
and Novartis having commercialization rights in the rest of the
world, and worldwide development costs for XmAb13676 will be shared
until June 2020. Novartis received worldwide rights to Xencor's
bispecific technology to develop and commercialize four additional
targets selected by Novartis. Xencor is eligible to receive
clinical, regulatory and sales milestone payments for successful
programs, as well as tiered, low double-digit royalties for sales
of XmAb14045 outside of the U.S. and mid single-digit tiered
royalties for worldwide sales of the four proprietary Novartis
bispecific molecules.
Shares of were untraded at $36.58 premarket.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 07, 2019 08:51 ET (13:51 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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