US pharmaceutical giant AbbVie (NYSE: ABBV) has announced a collaboration and option-to-license agreement with fellow US firm Xilio Therapeutics, Inc. (NASDAQ: XLO). The partnership aims to leverage Xilio’s proprietary technology to develop novel tumor-activated, antibody-based immunotherapies, including masked T-cell engagers.
Details of the Collaboration
Xilio, with its proprietary, clinically-validated platform technology for tumor-activated biologics, is advancing a pipeline of innovative immunotherapies. These include masked multispecific molecules designed to achieve tumor-selective activation. The molecules use masking and other unique components optimized for specific targets, allowing focused activity within the tumor microenvironment. The goal is to minimize systemic adverse events.
Financial Terms of the Agreement
Under the terms of the agreement, Xilio will receive USD52.0 million in upfront payments, including a USD10 million equity investment from AbbVie. Additionally, Xilio is eligible to receive up to USD2.1 billion in total contingent payments. These payments are for option-related fees and milestones, plus tiered royalties.-Fineline Info & Tech
