CytomX surges 26% on license deal with Regeneron to develop cancer drugs
Delmaine Donson


CytomX Therapeutics (NASDAQ:CTMX) and Regeneron Pharmaceuticals (NASDAQ:REGN) signed a collaboration and licensing agreement to develop conditionally-activated investigational bispecific cancer therapies.
Under the agreement, Regeneron and CytomX will collaborate on the discovery activities to identify and validate conditionally active bispecific antibodies.

Regeneron will be responsible for funding preclinical and clinical development and commercialization activities.
In exchange, CytomX will receive $30M upfront and will be eligible to receive future target nomination payments and preclinical, clinical, and commercial milestones of up to $2B, plus royalties.
The collaboration will use CytomX's Probody therapeutic platform and Regeneron's Veloci-Bi bispecific antibody development platform.
The partnership aims to focus CytomX's biologic masking strategies to develop investigational Regeneron bispecifics which remain inactive until activated by proteases in the tumor microenvironment.
The companies said this technology has the potential to minimize off-target effects for these next-generation T-cell engaging therapies, potentially addressing tumor types that have historically been unresponsive to immunotherapy.
CTMX +26.45% to $1.53 premarket Nov. 17
REGN -2.13% to $719.97 premarket