Xilio has developed a proprietary, clinically validated platform technology for tumor-activated biologics.
The company is advancing a pipeline of clinical and preclinical immunotherapies, including masked multispecific molecules, designed to achieve tumor-selective activation by leveraging masking and other unique components that are optimized for the specific target.
The action allows focused activity within the tumor microenvironment to minimize systemic adverse events.
Under the terms of the agreement, Xilio will receive $52.0 million in upfront payments, including a $10 million equity investment, and will be eligible to receive up to approximately $2.1 billion in contingent payments for option-related fees and milestones plus tiered royalties.
Concurrently, Xilio Therapeutics announced three wholly-owned preclinical programs for masked T cell engagers targeting prostate-specific membrane antigen for prostate cancer (PSMA), claudin 18.2 (CLDN18.2) and six-transmembrane epithelial antigen of prostate 1 (STEAP1).
Xilio anticipates that its existing cash and cash equivalents and the upfront payments under the agreement with AbbVie will be sufficient to fund its operating expenses and capital expenditure requirements into the first quarter of 2026.
Price Action: XLO stock is up 116.10% at $1.42 at the last check on Wednesday.
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