Xencor Inc. and Janssen Biotech Inc. entered into a research collaboration and license deal to develop certain antibody therapies for treating patients with prostate cancer.
Specifically, the agreement is focused on the discovery of XmAb bispecific antibodies against a type of protein called CD28. The antibodies can co-stimulate T cells and enhance anti-tumor activity.
Xencor will receive an up-front payment of $50 million and will also be eligible to receive milestone payments and high-single digit to low-double digit percent royalties on net sales.