Feb 7

The Business Cocktail

Genentech remunerates Xencor USD 120 Million for global rights

Genentech has remunerated USD 120 million upfront to have global rights to IL-15 cytokine therapeutics in preclinical development at Xencor. Xencor is pursuing IL-15, an immune signaling protein, contemplating that it can stimulate natural killer and cytotoxic T cells without activating the simultaneous temporary increase in regulatory T cell activity associated with the targeting of IL-2. This has intrigued Eli Lilly and Novartis. However, Xencor beliefs its technology can provide better tolerability and a longer half-life. 

The board member of XPrize upraises USD 100 Million fund

XPRIZE is a nonprofit organization that designs and manages public competitions intended to encourage technological development that could benefit humanity. It has plans to invest USD 100 million in startups for extending healthy lifespans. The fund will boost the capital into biotechs and other startups that are based across the globe for series B rounds.

GSK gambles billions more on oncology

GlaxoSmithKline and Merck KGaA have come for a joint development and commercialization deal for investigational immuno-oncology drugs. M7824 is a fusion protein that aims two immune system-suppressing pathways, including the PD-L1 pathway that produced drugs like Keytruda and Opdivo.  The researchers have tested M7824 ​over 700 patients in the clinic and more than 10 tumor types. The drug is the furthest along in advanced non-small cell lung cancer, where a Phase 2 study is evaluating it against Keytruda in patients who express PD-L1. Merck KGaA is receiving USD 343 million upfront through the GSK agreement and could receive up to USD 3.9 billion in milestone payments.

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