Re­gen­eron throws strug­gling Cy­tomX a life­line with $30M can­cer bis­pe­cif­ic deal

Re­gen­eron is team­ing up with a biotech that has strug­gled af­ter ax­ing its lead pro­gram just four months ago.

The big bio­phar­ma signed a li­cens­ing deal with Cy­tomX on Thurs­day morn­ing, pony­ing up $30 mil­lion up­front to work to­geth­er on bis­pe­cif­ic can­cer treat­ments. The deal comes with mile­stone pay­ments that could make it worth as much as $2 bil­lion if it hits re­search, de­vel­op­ment and sales bench­marks.

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