Xencor Earns $10M Amgen Milestone

Xencor, Inc. has earned a $10 million milestone payment from Amgen, triggered by the submission of the IND Application for AMG 424, a humanized T cell–recruiting bispecific antibody targeting CD38 and CD3, which uses Xencor's Bispecific XmAb Technology.

"XmAb antibody Fc domains continue to enable our partners to create a broad range of drug candidates, in addition to driving our internal programs," said Bassil Dahiyat, Ph.D., president and chief executive officer of Xencor. "Our XmAb Fc domains, each providing unique functional improvements to antibodies, open the door to new targets and new biology previously difficult to access. By selectively licensing our XmAb technology, we believe we create value in non-core areas, while we focus on advancing our key internal development programs."

Amgen licensed the XmAb Bispecific technology for five internal Amgen programs, as well as the Xencor preclinical bispecific T cell engager program directed at CD38 and CD3 for multiple myeloma.