Amgen, CytomX partner to develop immuno-oncology drugs

Under the deal, the partnership will develop CytomX Probody T-cell engaging bispecific against the epidermal growth factor receptor (EGFR), a validated oncology target expressed on multiple human cancer types.

In preclinical studies, CytomX's Probody versions of EGFRxCD3 bispecific therapeutics accelerated tumor regressions and increased the therapeutic window for this high potential cancer target.

Amgen will take the responsibility for development and commercialization and share the late-stage development costs between two companies.

As per terms of the deal, Amgen will pay an upfront payment of $40m and acquire $20m of CytomX common stock.

CytomX is provided with an option to secure up to $455m in development, regulatory and commercial milestones for the EGFR program.

In addition, Amgen will secure exclusive worldwide rights to develop and commercialize up to three additional and undisclosed targets.

CytomX will receive up to $950m in additional upfront and milestone payments based on the achievement of certain targets.

The firm will also secure the rights from Amgen to an undisclosed preclinical T-cell engaging bispecific program.

Amgen will secure milestones and royalty payments on any resulting products from the CytomX program.   

Amgen research and development executive vice president Dr Sean Harper said: "Our collaboration with CytomX leverages Amgen's development leadership in bispecifics and expands our immuno-oncology capabilities with an additional and complementary bispecific technology.

"EGFR is a particularly compelling target on which to employ the CytomX Probody platform given its potential to localize activity within tumors while limiting potential toxicity."