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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