RTTNews | Nov 21, 2021 08:11PM EST

20:10 Sunday, November 21, 2021 (RTTNews.com) - Zenas BioPharma has acquired from Xencor Inc. (XNCR) exclusive worldwide rights to develop, manufacture and commercialize the investigational antibody obexelimab.

Obexelimab is a potential first-in-class bifunctional antibody that targets CD19 with its variable domain and uses Xencor's XmAb Immune Inhibitor Fc Domain to target FcRIIb, a receptor that inhibits the function of B-cells, which are important components in the immune system.

Xencor demonstrated through early-stage clinical studies that obexelimab effectively inhibits B-cell function without depleting the cells and generates an encouraging treatment effect in patients with multiple autoimmune diseases.

As per the terms of the deal, Zenas will issue to Xencor a warrant giving Xencor the right to acquire additional Zenas equity, such that Xencor's total equity in Zenas would be 15% of its fully diluted capitalization following the closing of Zenas' next round of equity financing.

Xencor previously received equity in Zenas under a separate license agreement. Xencor is also eligible to receive up to $480 million based on the achievement of certain clinical development, regulatory and commercialization milestones and is eligible to receive tiered, mid-single digit to mid-teen percent royalties upon commercialization of obexelimab, dependent on geography. Zenas will have sole responsibility for advancing the research, development, regulatory and commercial activities of obexelimab worldwide.

Read the original article on RTTNews ( https://www.rttnews.com/3243889/zenas-biopharma-buys-worldwide-rights-to-obexelimab-from-xencor.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved