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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.
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(END) Dow Jones Newswires
February 05, 2019 13:14 ET (18:14 GMT)
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