CytomX Expands Collaboration Agreement with Regeneron

CytomX Therapeutics (CTMX) announced an expansion of its collaboration and licensing agreement with Regeneron Pharmaceuticals (REGN) to create conditionally-activated bispecific cancer therapies utilizing CytomX's Probody therapeutic platform and Regeneron's Veloci-Bi bispecific antibody development platform. The Regeneron and CytomX collaboration, initially entered into in 2022, is focused on applying CytomX's biologic masking strategies in combination with Regeneron's bispecific antibodies to develop investigational bispecifics that remain inactive until activated by proteases in the tumor microenvironment. Under the expanded agreement, Regeneron and CytomX will continue to collaborate on discovery activities to identify and validate conditionally active bispecific antibodies. Regeneron will be responsible for funding preclinical and clinical development and commercialization activities. CytomX will receive a target nomination payment of $37M for two additional targets that have been selected, and Regeneron has the option to select up to six additional future targets. Total potential target nomination payments, preclinical, clinical, regulatory and commercial milestones covered under the scope of the expanded collaboration could reach up to approximately $4B. CytomX is also eligible to receive tiered global net sales royalties on products covered under the collaboration.