As reported int he Medical News Today, Amgen and Xencor have agreed to terms to co-develop Xencor's novel XmAb®5871, an Fc- engineered monoclonal antibody dually targeting CD19 and CD32b markers. The drug is designed to immunomodulate B-cell function and has applicability in the treatment of autoimmune diseases. The CD32b pathway is considered to be novel and has not been exploited therapeutically before now.
Under the terms of the agreement, Amgen has the option to an exclusive worldwide license following the completion of a pre-defined Phase 2 study. Xencor will lead all clinical development until that time. Xencor will receive an up-front and early development milestone payments.
In return for the license, Xencor will receive an option-exercise fee which, combined with the up-front and early development milestones, will total $75 million, and Xencor could receive up to an additional $425 million in clinical, regulatory and commercialization milestone payments. Xencor will receive tiered royalties on future sales of XmAb5871.
"XmAb5871 provides a novel approach to suppress B-cell function which will enhance Amgen's internal efforts in inflammatory diseases," said Joseph P. Miletich, M.D., Ph.D., senior vice president, Research & Development at Amgen. "We are delighted to have the opportunity to partner with Xencor in exploring their novel immunomodulatory approach."
Posted by Bruce Lehr Jan 8th 2011.