AbbVie Partnership On CD71 Gives CytomX Big Upfront, Co-Promotion Potential
Antibody-drug conjugates have taken a back seat to cancer immunotherapy as the hot modality in oncology of late, but AbbVie Inc. and CytomX Therapeutics Inc. unveiled a partnership on April 20 to develop an ADC in a deal that CytomX cites as further validation of its Probody technology platform.
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Day three at the BIO International Convention included an off-site visit to Lilly's newly expanded R&D site as well as conversations with Sigilon about the $23m Series A venture funding round it announced that morning and with CytomX about its dealmaking strategy.
Bristol-Myers Squibb expanded its collaboration with CytomX for $200m up front and up to $3.6bn in milestone fees. Also, Takeda spun out eight non-core molecules into a new joint venture and X-Chem executed two deals with Japanese partners, among other recent deals.
AbbVie Inc. is boosting its early-stage oncology pipeline with multiple preclinical licensing deals, including a deal with the Belgian firm argenx, which was followed by a deal with CytomX Therapeutics Inc.