Takeda to acquire GammaDelta Therapeutics to develop γδ T cell therapies

Boehringer buys Abexxa, bolstering its immuno-oncology pipeline

Boehringer Ingelheim has agreed to buy US biotech Abexxa Biologics. Abexxa’s platform has grown out of research conducted at University of Texas at Arlingtonand focuses on antibodies directed at intracellular targets on antigens that are presented on the surface of cells by human leukocyte antigen (HLA) molecules. Its lead project is a TCR-like antibody against an HLA molecule associated with intracellular protein NKG2A, an immune checkpoint. Inhibiting NKG2A is thought to restore the activity of natural killer cells and T cells against cancer. The privately-held German pharma company hasn’t disclosed how much it will pay for Abexxa.

PARTNERING

Xencor enters global licensing deal to advance bispecific antibody plamotamab

J&J announced an exclusive collaboration and worldwide license agreement with Janssen to develop and commercialize plamotamab and novel XmAb B-cell targeting bispecific antibodies that are designed to conditionally activate T cells through the CD28 co-stimulatory receptor. Plamotamab is a CD20xCD3 XmAb bispecific antibody and is currently completing a Phase 1 dose-escalation study in patients with CD20-expressing hematologic malignancies. Janssen will receive worldwide exclusive development and commercialization rights to plamotamab, whether as a monotherapy or in combination regimens. Xencor will collaborate with Janssen on further clinical development of plamotamab with Janssen paying 80% and Xencor paying 20% of costs, including those for a subcutaneous formulation anticipated to enter clinical trials in 2022. Xencor will apply its XmAb bispecific Fc technology to create and characterize XmAb CD28 bispecific antibody candidates against B-cell targets during a two-year joint research collaboration, and Janssen will have an exclusive worldwide license to develop selected molecules in combination with plamotamab and other agents, such as CD3 bispecific antibodies. Xencor will receive an upfront payment of $100 million, and J&J Innovation will purchase $25 million of newly issued shares of Xencor common stock. Xencor will be eligible to receive up to $1.188 billion in potential development, regulatory and sales milestone payments, as well as tiered royalties on net sales of products developed under the agreement, ranging from mid-teen to low-twenties percentages for products containing plamotamab and plamotamab/ CD28 bispecific antibody combinations. Separate terms apply to CD28 bispecific antibodies commercialized outside of a plamotamab combination, where Xencor retains an option to co-fund development costs in exchange for higher royalties and right to co-detail such products in US.

F-Star announced a deal with Janssen to develop and commercialize multiple bispecific antibodies

F-Star Therapeutics entered into a license and collaboration agreement with Janssengranting Janssen a worldwide, exclusive royalty-bearing license to research, develop, and commercialize up to five novel bispecific antibodies directed to Janssen therapeutic targets using F-star’s proprietary Fcab and mAb2 platforms. Janssen will be responsible for all research, development, and commercialization activities under the agreement. The deal could generate up to $1.35 billion in milestone payments on top of a $17.5 million upfront fee. F-star could also receive tiered mid-single-digit royalties.

IPOs

Pyxis Oncology and Xilio Therapeutics completed their IPOs

Pyxis, which is developing an arsenal of next-generation therapeutics to target difficult-to-treat cancers, completed its IPO selling 10,500,000 shares of common stock at $16 per share, generating $168 million. Xilio completed initial public offering selling 7,353,000 shares of its common stock at a price to the public of $16 per share. The aggregate gross proceeds to Xilio from the offering were approximately $117.6 million. Xilio plans to use around $35 million to advance the development of IL-2 program XTX202 through Phase 1 dose escalation and Phase 2 efficacy cohorts of planned Phase 1/2 trial in patients with solid tumors, and ​approximately $15 million to advance the CTLA-4 antibody XTX101 through Phase 1 dose escalation and to initiate activities for Phase 2 development.