Amgen & Xencor Announce Research Collaboration - Quick Facts

(RTTNews) - Amgen (AMGN) and Xencor, Inc. (XNCR) announced they have entered into a research and license agreement to develop and commercialize therapeutics in the areas of cancer immunotherapy and inflammation. The collaboration includes molecular engineering by Xencor and the preclinical development of bispecific molecules for five programs proposed by Amgen. The agreement also includes a preclinical bispecific T cell engager program directed at CD38 and CD3 for multiple myeloma.

Amgen will be fully responsible for preclinical and clinical development and commercialization worldwide. Xencor will receive a $45 million upfront payment and up to $1.7 billion in clinical, regulatory and sales milestone payments in total for the six programs. Xencor is eligible to receive mid to high single-digit royalties for candidates directed against Amgen's targets, and high single to low double-digit royalties for Xencor's CD38 bispecific T cell engager.