On March 29, Gilead Sciences (GILD.US) and Xilio Therapeutics announced that they have reached an exclusive license agreement totaling more than 600 million US dollars.
The Zhitong Finance App learned that on March 29, Gilead Sciences (GILD.US) and Xilio Therapeutics announced that they have reached an exclusive license agreement totaling more than 600 million US dollars. The two companies will jointly develop and commercialize Xilio's tumor-activating interleukin 12 (IL-12) protein XTX301. The drug under development is currently in phase 1 clinical phase.
According to the data, Xilio Therapeutics is a clinical-stage biotechnology company dedicated to the discovery and development of tumor-activating immuno-oncology therapies. The company is using its proprietary tumor activation platform to build a range of novel tumor-activating molecules, including antibodies, cytokines, bispecific drugs, and cell conjugates, to optimize therapeutic indices and limit the drug's anti-tumor activity to the tumor microenvironment. XTX301 is currently being evaluated in a phase 1 dose escalation trial for patients with advanced solid tumors.
Under the terms of the agreement, Xilio granted Gilead an exclusive worldwide license to develop and commercialize the XTX301. Xilio will receive an advance payment of $43.5 million and will be eligible for additional milestones of up to $604 million in potential development, regulation, and sales. Xilio will be responsible for the development of the ongoing XTX301 clinical phase 1 trial. After Xilio delivers the designated clinical data for the XTX301, Gilead may choose to obtain the right to develop and commercialize the XTX301 and pay a fee of $75 million. Prior to that, Xilio was eligible for additional investment and development milestone payments totaling up to $29 million.