CytomX Announces Selection by Bristol-Myers Squibb of First Clinical Candidate Probody From Collaboration
2016年12月13日 - 10:00PM
CytomX Therapeutics, Inc. (Nasdaq:CTMX), a biopharmaceutical
company developing investigational Probody™ therapeutics for the
treatment of cancer, today announced that Bristol-Myers Squibb
Company has selected a clinical candidate for its CTLA-4 Probody
program under the strategic oncology collaboration established in
May 2014. Achieving this milestone results in a $2 million
payment to CytomX.
“Selecting a candidate for the CTLA-4 Probody program is a
pivotal development in our partnership with CytomX Therapeutics and
builds on our I.O. leadership,” said Carl Decicco, Ph. D., Head of
Discovery at Bristol-Myers Squibb. “We are studying the CTLA-4
Probody for its potential to deliver a next-generation anti-CTLA-4
therapy as we continue to explore transformational immuno-oncology
medicines.”
CTLA-4, a clinically validated inhibitory immune checkpoint
protein, is the most advanced target from the companies’
collaboration, which now also includes three additional, unnamed
targets in discovery.
“Advancing our CTLA-4 Probody program to clinical candidate
stage with Bristol-Myers Squibb underscores the potential of the
Probody platform to transform the field of immuno-oncology by
delivering safer, more effective therapies,” said Sean McCarthy,
D.Phil., President and Chief Executive Officer of CytomX. “This
partnership milestone, taken together with CytomX’s recently filed
Investigational New Drug application for CX-072, a wholly owned
PD-L1-directed Probody therapeutic, highlights the potential of our
innovative platform to deliver a new generation of anti-cancer
treatments.”
About the Collaboration
AgreementUnder the terms of the May 2014
agreement, CytomX granted Bristol-Myers Squibb exclusive worldwide
rights to discover, develop and commercialize Probody therapeutics
for up to four oncology targets. Bristol-Myers Squibb made an
upfront payment of $50 million to CytomX in 2014, and is providing
research funding over the course of the research term. Upon the
selection of the third and fourth targets, Bristol-Myers Squibb
paid CytomX selection payments. CytomX is also eligible to
receive additional preclinical payments and up to $298 million in
development, regulatory and sales milestone payments for each
collaboration target, as well as tiered royalties rising from
mid-single digit to low double digits on net sales of each product
commercialized by Bristol-Myers Squibb.
About CytomX TherapeuticsCytomX is an
oncology-focused biopharmaceutical company pioneering a novel class
of investigational antibody therapeutics based on its Probody
technology platform. The Company uses the platform to create
proprietary cancer immunotherapies against clinically-validated
targets, as well as to develop first-in-class investigational
cancer therapeutics against novel targets. CytomX believes that its
Probody platform has the potential to improve the combined efficacy
and safety profile of monoclonal antibody modalities, including
cancer immunotherapies, antibody drug conjugates and
T-cell-recruiting bispecific antibodies. Probody therapeutics are
designed to take advantage of unique conditions in the tumor
microenvironment to enhance the tumor-targeting features of an
antibody and reduce drug activity in healthy tissues. The
Company’s investigational Probody therapeutics address
clinically-validated cancer targets in immuno-oncology, such as
PD-L1, against which the clinical candidate CX-072 is directed, as
well as novel targets, such as CD-166, that are difficult to drug
without causing damage to healthy tissues. In addition to its
proprietary programs, CytomX is collaborating with strategic
partners including AbbVie, Bristol-Myers Squibb Company, Pfizer
Inc., MD Anderson Cancer Center and ImmunoGen, Inc. For more
information, visit www.cytomx.com.
Forward-Looking StatementsThis press release
includes forward-looking statements, including statements related
to the development and advancement of the Company’s product
candidates into, and the successful completion of, clinical trials,
including with respect to the timing of a Phase 1 clinical trial
for CX-072 and the timing of an IND submission and the Phase 1
clinical trial for CX-2009, the availability of data from such
clinical trials, the timing and success of certain of the Company’s
collaborations and the Company’s ability to identify potential
collaborators. Such forward-looking statements involve known and
unknown risks, uncertainties and other important factors that are
difficult to predict, may be beyond the Company’s control, and may
cause the actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied in such statements. Accordingly,
you should not rely on any of these forward-looking statements. The
Company’s Probody platform is in preclinical development, and the
process by which a preclinical technology could potentially lead to
an approved product is long and subject to significant risks and
uncertainties. Projected net cash utilization and capital resources
are subject to substantial risk of variance based on a wide variety
of factors that can be difficult to predict. Applicable risks
and uncertainties include those relating to our preclinical
research and development, the accuracy of the Company’s estimates
relating to its ability to initiate and/or complete clinical
trials, the Company’s ability to demonstrate evidence of efficacy
and safety of its product candidates during clinical trials, the
unpredictability of the regulatory process, regulatory developments
in the United States and foreign countries, the Company’s existing
and potential future collaborations and other risks identified
under the heading "Risk Factors" included in our filings with the
SEC. The forward-looking statements contained in this press release
are based on information currently available to the Company and
speak only as of the date on which they are made. The Company does
not undertake and specifically disclaims any obligation to update
any forward-looking statements, whether as a result of any new
information, future events, changed circumstances or otherwise.
Corporate Communications Contact:
Canale Communications
Ian Stone
ian@canalecomm.com
619-849-5388
Investor Contact:
Trout Group
Pete Rahmer
prahmer@troutgroup.com
646-378-2973
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