CytomX Therapeutics Announces Second Target Selection and Program Initiation with AbbVie Under Ongoing, Multi-Program Strategic Oncology Collaboration
CytomX Therapeutics, Inc. (CTMX)
Last cytomx therapeutics, inc. earnings: 11/7 04:09 pm
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Source: GlobeNewswire
SOUTH SAN FRANCISCO, Calif., July 09, 2019 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. (Nasdaq: CTMX), a clinical-stage oncology-focused biopharmaceutical company pioneering a novel class of investigational antibody therapeutics based on its Probody™ therapeutic technology platform, today announced the second target selection by its partner AbbVie under the companies’ 2016 Discovery Collaboration and Licensing Agreement to discover and develop Probody drug conjugates (“PDC”). The target selection triggers a $10 million payment to CytomX from AbbVie. This is the second of two research targets available to AbbVie under the agreement. The companies are also advancing a clinical-stage asset, CX-2029, under a global co-development and licensing agreement. “The initiation of this additional program with AbbVie and the associated milestone payment reflects the growing strength of clinical proof of concept CytomX has achieved in support of the Probody platform. It also further underscore
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