Zenas, a US-China Biopharma, Announces $480 Million Deal for Autoimmune Therapy
publication date: Nov 23, 2021
In a $480 million deal. Zenas BioPharma acquired global rights to a bifunctional antibody from Xencor that targets CD19. The candidate uses Xencor's XmAb® Immune Inhibitor Fc Domain to target FcγRIIb, a receptor that inhibits the function of B-cells, which function in the immune system. The candidate, obexelimab, is in pre-clinical development. Instead of an upfront payment, Zenas will issue a warrant granting Xencor the right to acquire additional Zenas shares up to 15% of Zenas’ equity. Zenas will also pay $480 million in milestones plus royalties on sales. More details....
Stock Symbol: (NSDQ: XNCR)
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