Xen­cor says good­bye to its for­mer lead drug, sell­ing all rights to Lon­nie Moul­der's new start­up

More than three years af­ter its lead pro­gram failed a Phase II study, Xen­cor is pass­ing off the drug to an up-and-com­ing Hong Kong biotech.

Xen­cor sold ex­clu­sive world­wide rights for obex­e­limab, a bis­pe­cif­ic tar­get­ing FcγRI­Ib and CD19 to treat au­toim­mune dis­eases, to Lon­nie Moul­der’s Zenas Bio­Phar­ma, the com­pa­nies an­nounced Sun­day evening. In ex­change, Xen­cor gets a slice of eq­ui­ty equal­ing 15% of Zenas’ shares fol­low­ing its next fi­nanc­ing round, up to $480 mil­lion in mile­stones and roy­al­ties.

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