ZENAS BIOPHARMA BUYS FROM XENCOR EXCLUSIVE WORLDWIDE RIGHTS TO OBEXELIMAB

KUALA LUMPUR, Nov 22 (Bernama) -- Xencor Inc, a clinical-stage biopharmaceutical company, and Zenas BioPharma (Zenas), a global biopharmaceutical company, have announced that Zenas has acquired from Xencor exclusive worldwide rights to develop, manufacture and commercialise the investigational antibody obexelimab.

Obexelimab is a potential first-in-class bifunctional antibody that targets CD19 with its variable domain and uses Xencor's XmAb® Immune Inhibitor Fc Domain to target FcγRIIb, a receptor that inhibits the function of B-cells, which are important components in the immune system.

According to a statement, Xencor demonstrated through early-stage clinical studies that obexelimab effectively inhibits B-cell function without depleting the cells and generates an encouraging treatment effect in patients with multiple autoimmune diseases.

“Zenas is advancing a broad pipeline of differentiated drug candidates that are intended to bring best-in-class innovation to patients with underserved medical needs,” said Hua Mu, Ph.D., MD, president and chief executive officer at Zenas.

“Today, we are pleased to add obexelimab to our portfolio, and based on its clinical profile, we believe it is positioned as a first-in-class candidate with the potential to treat numerous autoimmune diseases.”

Under the terms of the new agreement, Zenas will issue to Xencor a warrant giving Xencor the right to acquire additional Zenas equity, such that Xencor’s total equity in Zenas would be 15 per cent of its fully diluted capitalisation following the closing of Zenas’ next round of equity financing, subject to certain requirements.

Xencor is also eligible to receive up to US$480 million based on the achievement of certain clinical development, regulatory and commercialisation milestones and is eligible to receive tiered, mid-single digit to mid-teen per cent royalties upon commercialisation of obexelimab, dependent on geography. (US$1 = RM4.187)

Zenas will have sole responsibility for advancing the research, development, regulatory and commercial activities of obexelimab worldwide.

More details at www.zenasbio.com.

-- BERNAMA