CytomX Therapeutics Announces Milestone Achievement In PROBODY T-Cell Engaging Bispecific Collaboration With Astellas; Triggers $5M Payment To CytomX
Portfolio Pulse from Benzinga Newsdesk
CytomX Therapeutics has achieved a milestone in its collaboration with Astellas on T-cell engaging bispecifics, triggering a $5M payment to CytomX. This milestone was reached with the initiation of a GLP toxicology study for the first clinical candidate. The collaboration includes several projects, and CytomX retains options for US co-commercialization and economic rights for certain programs.
March 18, 2024 | 12:13 pm
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CytomX Therapeutics receives a $5M milestone payment from Astellas, marking progress in their collaboration on T-cell engaging bispecifics.
The $5M payment to CytomX signifies a successful step in their collaboration with Astellas, potentially boosting investor confidence in CytomX's pipeline and partnership strategy. This financial inflow and the progress in their collaboration could positively impact CytomX's stock in the short term, reflecting the company's ability to meet significant milestones and secure funding.
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