Regeneron and CytomX Expand Collaboration to Develop Conditionally Activated Bispecific Antibodies with Potential $4 Billion Deal

June 3,CytomX Therapeutics (NASDAQ: CTMX) announced the expansion of its collaboration and license agreement with Regeneron to create conditionally activated bispecific antibodies by leveraging CytomX’s Probody® therapeutic platform and Regeneron’s Veloci-Bi® bispecific antibody development platform. (Over $2 Billion! Regeneron Collaborates to Develop Conditionally Activated Bispecific Antibody）

Regeneron and CytomX’s collaboration, initially launched in 2022, strategically focuses on combining CytomX’s Probody® bio-shielding technology with Regeneron’s bispecific antibodies to develop bispecific antibodies that remain inactive until activated by proteases within the tumor microenvironment. This technology has the potential to broaden the therapeutic window and help minimizeNext GenerationT-cell engagingOff-target effects of therapyeffect, thereby potentially addressing tumor types that have historically been challenging for immunotherapy.

John Lin, M.D., Senior Vice President of Oncology and Antibody Technology Research at Regeneron, stated:“Cancer demands innovative treatment approaches. Through our expanded collaboration with CytomX, we are advancing what we believe to be the most promising bispecific therapies. Our complementary oncology expertise with CytomX, including the application of our proprietary VelociSuite® technologies developed to accelerate drug discovery and development, positions us uniquely to collaborate on creating new medicines for patients in need.”

Sean McCarthy, CEO and Chairman of CytomX, stated:“Our ongoing research collaboration with Regeneron is built on a shared commitment to cutting-edge science and a vision to push the boundaries of cancer immunotherapy. At CytomX, we are leveraging our deep understanding of masking and protease biology to unlock new opportunities uniquely enabled by our technology. Regeneron’s extensive expertise in bispecific immunotherapies makes them an ideal partner to expand the reach of the PROBODY platform, and we look forward to building on the momentum of our alliance to drive meaningful change for cancer patients together.”

Under the expanded agreement, Regeneron and CytomX will continue to collaborate on discovery activities to identify and validate conditionally activated bispecific antibodies. Regeneron will be responsible for funding preclinical and clinical development as well as commercialization activities. CytomX will receive a $37 million target nomination fee for two additional selected targets, with Regeneron holding the option to select up to six additional future targets. The total potential target nomination payments, along with preclinical, clinical, regulatory, and commercial milestones under the expanded collaboration, could amount to approximately $4 billion. CytomX is also eligible to receive tiered global net sales royalties on collaborative products.