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.
Roche (QX) (USOTC:RHHBY)
Historical Stock Chart
From Aug 2020 to Sep 2020 Click Here for more Roche (QX) Charts.
Roche (QX) (USOTC:RHHBY)
Historical Stock Chart
From Sep 2019 to Sep 2020 Click Here for more Roche (QX) Charts.