October 3, 2017 / 10:21 PM / a year ago

BRIEF-Amgen, CytomX therapeutics announce strategic collaboration in Immuno-Oncology

Oct 3 (Reuters) - Amgen Inc:

* Amgen and CytomX Therapeutics announce strategic collaboration in immuno-oncology

* Co will lead later development and commercialization with global late-stage development costs shared between co, CytomX

* Under agreement, Co, CytomX to co-develop probody T-cell engaging bispecific against EGFRXCD3 with CytomX leading early development

* Under agreement, co will make upfront payment of $40 million and purchase $20 million of cytomx common stock

* CytomX will be eligible to receive up to $455 million in development, regulatory and commercial milestones for EGFR program

* CytomX to be able to opt into profit share in U.S., receive tiered, double-digit royalties on sales outside of U.S. for EGFR program

* Under agreement, Co will also receive exclusive worldwide rights to develop and commercialize up to three additional, undisclosed targets

* Should Co pursue all of undisclosed targets, CytomX to be eligible to receive up to $950 million in additional upfront, milestone payments

* If Co pursues undisclosed targets, CytomX to also be eligible to get high single-digit to mid-double digit royalties on resulting products

* CytomX will also receive rights from co to undisclosed preclinical T-cell engaging bispecific program

* is eligible to receive milestones, royalty payments on resulting products from undisclosed preclinical t-cell engaging bispecific program Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below