Full Press Release Details
- Achievement of latest clinical candidate triggers additional $5 million milestone payment to CytomX and is the third milestone achieved in the collaboration to date -
- CytomX-retains US co-commercialization and economic rights for select programs -
SOUTH SAN FRANCISCO, Calif., April 03, 2024 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. today announced the achievement of a second clinical candidate nomination under the companies’ TCB collaboration with Astellas, triggering a $5 million milestone payment to CytomX. CytomX and Astellas are collaborating on multiple conditionally activated TCB programs with CytomX eligible to receive additional future preclinical, clinical and commercial milestones. CytomX retains a cost share and co-commercialization option on a select number of targets.
“The achievement of clinical candidate nomination for the second Probody® TCB program in our broad collaboration with Astellas underscores our capabilities in the exciting field of conditionally activated, masked T-cell engaging bispecifics. T-cell engagers offer new possibilities for the treatment of solid tumors and the PROBODY® platform may be ideally suited to realizing the potential of this modality,” said Sean McCarthy, D. Phil, chief executive officer and chairman of CytomX.
“At Astellas, immuno-oncology is a Primary Focus of our research and development strategy, and the rapidly advancing field of masked bispecific immune cell engagers holds tremendous promise for patients,” stated Peter Sandor, M.D., Senior Vice President and Primary Focus Lead, Immuno-Oncology. “We are delighted with the progress in our broad alliance in this area with CytomX and look forward to the continued collaboration successes as we expand our next-generation immuno-oncology therapeutic pipeline to address areas of high unmet medical need.”
About CytomX Therapeutics
CytomX Therapeutics Forward-Looking Statements
This press release includes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that are difficult to predict, may be beyond our control, and may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied in such statements, including those related to the future potential of partnerships or collaboration agreements. Accordingly, you should not rely on any of these forward-looking statements, including those relating to the potential benefits, safety and efficacy or progress of CytomX’s or any of its collaborative partners’ product candidates, including CX-2051, CX-801, and CX-904, the potential benefits or applications of CytomX’s PROBODY® therapeutic platform, CytomX’s or its collaborative partners’ ability to develop and advance product candidates into and successfully complete clinical trials, including the ongoing and planned clinical trials of CX-904, and the timing of the commencement of clinical trials or initial and ongoing data availability for CX-801 and CX-2051, and other development milestones. Risks and uncertainties that contribute to the uncertain nature of the forward-looking statements include: the unproven nature of CytomX’s novel PROBODY® therapeutic technology; CytomX’s clinical trial product candidates are in the initial stages of clinical development and its other product candidates are currently in preclinical development, and the process by which preclinical and clinical development could potentially lead to an approved product is long and subject to significant risks and uncertainties, including the possibility that the results of preclinical research and early clinical trials may not be predictive of future results; the possibility that CytomX’s clinical trials will not be successful; the possibility that current preclinical research may not result in additional product candidates; CytomX’s dependence on the success of CX-904, CX-801, and CX-2051; CytomX’s reliance on third parties for the manufacture of the Company’s product candidates; possible regulatory developments in the United States and foreign countries; and the risk that we may incur higher costs than expected for research and development or unexpected costs and expenses. Additional applicable risks and uncertainties include those relating to our preclinical research and development, clinical development, and other risks identified under the heading "Risk Factors" included in CytomX’s Annual Report on Form 10-K filed with the SEC on March 11, 2024. The forward-looking statements contained in this press release are based on information currently available to CytomX and speak only as of the date on which they are made. CytomX does not undertake and specifically disclaims any obligation to update any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.
PROBODY is a U.S. registered trademark of CytomX Therapeutics, Inc.
CytomX Investor Contact:
SVP, Finance and Accounting
CytomX Investor and Media Contact:
Stern Investor Relations