- CytomX Therapeutics (CTMX +1%) announces that it has advanced CD71-targeting Probody drug conjugate CX-2029 into toxicology studies, triggering a $15M milestone payment from collaboration partner AbbVie (ABBV -0.2%). The company says an IND should be filed in 2018.
- CytomX chief Sean McCarthy, Ph.D., says, “CD71 is highly attractive for delivery of cytotoxic payloads to cancer cells, but its presence on normal cells has precluded the development of antibody drug conjugates using this high-potential target. We have used our Probody platform to design and optimize CX-2029, a CD71-targeting Probody drug conjugate with the potential to safely and effectively treat a wide range of cancers. Rapid progression of the CX-2029 program to this important milestone has been enabled by our close collaboration with AbbVie, and we look forward to advancing this first-in-class molecule into the clinic.”
- AbbVie will lead later development and commercialization with global late-stage development costs to be shared. CytomX received $30M upfront and is eligible for up to $470M in milestones plus tiered double-digit royalties.
- Previously: AbbVie teams up with CytomX in Probody Drug Conjugates (April 21, 2016)
- Now read: Buy AbbVie For The Pipeline
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