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CytomX Lands $80M to Kick Off Cancer Drug R&D Pact With Astellas

Posted On: Mar 24, 2020   |   Posted By: Xconomy

CytomX Lands $80M to Kick Off Cancer Drug R&D Pact With Astellas

CytomX Therapeutics is teaming up with Astellas Pharma in a research and development alliance focused on developing new cancer immunotherapies based on its antibody technology. Under deal terms announced late Monday, Astellas is paying CytomX $80 million up front. South San Francisco-based CytomX will conduct and finance the research up to the selection of drug candidates. Astellas will take the lead from there, funding preclinical and clinical research. Depending on the progress of those programs, Tokyo-based Astellas could pay CytomX up to $1.6 billion more, plus royalties from sales of any approved products. Shares of CytomX opened at...

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