Xencor Outlicenses Autoimmune Disease Candidate To Zenas BioPharma

  • Zenas BioPharma has acquired from Xencor Inc XNCR exclusive worldwide rights to develop, manufacture, and commercialize obexelimab.
  • Obexelimab is a potential first-in-class bifunctional antibody that targets CD19 with its variable domain. It uses Xencor's XmAb Immune Inhibitor Fc Domain to target FcγRIIb, a receptor that inhibits the function of B-cells, which are essential components in the immune system. 
  • Under the terms of the new agreement, Zenas will issue a warrant giving Xencor the right to acquire additional Zenas equity, such that Xencor's total equity in Zenas would be 15% after Zenas' next round of equity financing.
  • Xencor previously received equity in Zenas under a separate license agreement. Xencor is also eligible to receive up to $480 million milestone payments.
  • Related: Novartis Dumps Another Bispecific Candidate From Xencor Deal.
  • Price Action: XNCR shares closed lower by 0.30% at $36.86 on Friday.
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