Amgen, Xencor In $1.75 Billion Cancer Drug Alliance
Small biotech Xencor (XNCR) said Wednesday that it had entered a cancer-drug collaboration with Amgen (AMGN) that could be worth as much as $1.75 billion. Amgen agreed to pay $45 million upfront to license Xencor’s XmAb bispecific technology platform in five preclinical programs aimed at treating cancer as well as inflammatory diseases. If these succeed, Amgen will owe up to $1.7 billion in milestone payments. Bispecific antibodies are fragments