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Xencor, Inc. XNCR announced that it has entered into a research collaboration and commercialization agreement with The University of Texas MD Anderson Cancer Center to develop novel CD3 bispecific antibody therapies for the potential treatment of cancer.
Per the agreement, Xencor will have an exclusive option to license worldwide rights to develop/commercialize potential new medicines which are formed from this collaboration. Xencor is also entitled to receive a portion of future payments received by MD Anderson for any product cropping up from the collaboration which is not licensed by Xencor already.
Per the press release, the strategic deal will leverage Xencor’s innovative XmAb technology and expertise in protein engineering along with MD Anderson’s strength in research and discovery of novel therapeutic antibodies.
Shares of Xencor have rallied 26.8% in the past year against the industry’s decrease of 3.8%.
Xencor is engaged in developing engineered monoclonal antibodies for the treatment of cancer and autoimmune diseases.
In December 2020, the company entered into a collaboration and license agreement with Janssen, a wholly owned subsidiary of Johnson & Johnson JNJ, to develop novel CD28 bispecific antibodies for the treatment of prostate cancer.
Xencor received an upfront payment of $50 million and is eligible to receive potential milestone payments and royalties on net sales if a product is commercialized from this deal.
Also, in November 2020, Xencor along with Incyte INCY and Germany’s MorphoSys AG entered into a collaboration deal to evaluate the combination of Monjuvi (tafasitamab), plamotamab and Bristol-Myers’ BMY Revlimid (lenalidomide), targeting various lymphoma indications.
We note that, Xencor’s plamotamab (CD20 x CD3) is a XmAb bispecific antibody which is currently in a phase I study for the treatment of non-Hodgkin lymphoma and chronic lymphocytic leukemia.
Monjuvi, a CD19-directed antibody, is co-marketed by MorphoSys and Incyte in combination with Revlimid for relapsed or refractory diffuse large B-cell lymphoma in the United States.
Xencor currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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