J&J dumps plamotamab bispecific, Xencor regains rights
Phase 1Phase 2License out/inADC
Johnson & Johnson's Janssen unit has terminated its rights to the experimental CD20xCD3 bispecific T-cell engager plamotamab, handing full control of the haematologic cancer drug back to partner Xencor.
The decision dissolves part of a potentially $1.2-billion deal struck in 2021 in which Janssen paid $100 million upfront and purchased $25 million in Xencor stock to gain exclusive global rights to plamotamab and develop it as monotherapy or in combination regimens.
Phase II ready
Plamotamab was a key part of the collaboration aimed at developing new therapies for B-cell malignancies by conditionally activating T-cells through the CD28 co-stimulatory receptor. Xencor completed enrollment in a Phase I study of plamotamab in late 2023.
In a statement Thursday, CEO Bassil Dahiyat said "plamotamab is a Phase II-ready, subcutaneously administered immune-cell directed cytotoxic antibody, and we will review its potential for addressing unmet medical needs."
Other candidates advancing
While relinquishing plamotamab, Xencor's CD28 bispecific antibody platform still remains the subject of two collaborations with Janssen – JNJ-9401 for prostate cancer and JNJ-1493 for B-cell malignancies – both of which entered Phase I in late 2023.
Xencor also said it is eligible for additional development, regulatory and sales milestones, along with net sales royalties in the high-single- to low-double-digit percentage range. If a programme shows clinical proof-of-concept, Xencor can choose to fund 20% of development costs for JNJ-9401 or 15% for JNJ-1493 or other B-cell targeting bispecifics, and perform up to 30% of detailing efforts in the US. If it opts-in, Xencor can earn royalties in the low-double-digit to mid-teens percent range.
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