Xencor Announces Closing of Research Collaboration and License Agreement with Genentech

Xencor, a clinical-stage biopharmaceutical company developing engineered monoclonal antibodies for the treatment of autoimmune disease, asthma and allergic diseases, and cancer, today announced the closing of its research collaboration and license agreement with Genentech, a member of the Roche Group, following the expiration of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976. Xencor and Genentech entered the agreement to develop and commercialize novel IL-15 cytokine therapeutics, including XmAb^®24306, an IL-15/IL-15Rα cytokine complex engineered with Xencor’s bispecific Fc domain and Xtend™ Fc technology.

The agreement is effective as of March 8, 2019, and the related $120 million upfront payment by Genentech to Xencor is due within 30 days of the effective date. Additional details about the collaboration can be found in Xencor’s Form 8-K filed with the Securities and Exchange Commission on February 5, 2019.