The bispecific boom: Genentech pays $120M to tie the knot with Xencor on an IL-15 alliance
Genentech is fronting $120 million to partner up with Xencor $XNCR on its IL-15 cytokine work, nabbing co-development rights to the late preclinical drug XmAb24306 along with future candidates to come.
The collaboration will be jointly funded, with both companies splitting costs and any profits that come out of it. In addition, the big Roche subsidiary has agreed to pay up to $160 million in milestones for the lead program, with up to $180 million more for each new drug they find during a joint discovery program over the next 2 years.
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