Xencor in Research and License Agreement with Roche's Genentech

Date : 02/05/2019 @ 6:29PM
Source : Dow Jones News
Stock : Roche Holding (QX) (RHHBY)
Quote : 38.23  0.06 (0.16%) @ 9:00PM

Xencor in Research and License Agreement with Roche's Genentech

Xencor (NASDAQ:XNCR)
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By Michael Dabaie

 

Xencor Inc. (XNCR) said Tuesday it has entered a research and license agreement with Genentech, part of Roche (RHHBY).

Genentech will pay Xencor $120 million upfront, and Xencor will be eligible to receive up to $180 million in development milestones per program and profit share from commercialized medicines.

The deal aims to develop and commercialize novel IL-15 cytokine therapeutics.

"We believe cytokine therapy will play an important role in the treatment of a wide range of diseases, including cancer," said James Sabry, global head of pharma partnering for Roche.

Xencor shares were recently up 4% to $37.88.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

February 05, 2019 13:14 ET (18:14 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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