AbbVie and Xilio Therapeutics have entered into a collaboration and option-to-license agreement to develop novel tumor-activated, antibody-based immunotherapies. The partnership will focus on creating masked T-cell engagers by leveraging Xilio's proprietary technology.
Xilio Therapeutics has developed a platform for tumor-activated biologics, advancing both clinical and pre-clinical immunotherapies designed for tumor-selective activation. This approach aims to minimize systemic adverse events by concentrating activity within the tumor microenvironment.
"AbbVie is committed to expanding our R&D efforts in oncology. This includes investigation of novel immunotherapy approaches that aim to generate improved next-generation cancer treatments for patients in need," stated Theodora S. Ross, M.D., Ph.D., vice president of early oncology research and development at AbbVie. "This partnership with the Xilio team further exemplifies our commitment."
"This collaboration with AbbVie, a global leader in developing and commercializing oncology therapies, allows us to accelerate the expansion of our technology to next-generation immunotherapies, including T-cell engagers," commented Uli Bialucha, Ph.D., chief scientific officer of Xilio.
Under the agreement terms, Xilio will receive $52 million in upfront payments, including a $10 million equity investment. Additionally, they may earn up to approximately $2.1 billion through contingent payments related to options and milestones plus tiered royalties.
Xilio will host an investor conference call today at 8:30 am EST. Access details are available on their website under the "Events & Presentations" section.
AbbVie's mission focuses on discovering innovative medicines across several therapeutic areas such as immunology, oncology, neuroscience, and eye care. They strive to transform standards of care for patients with difficult-to-treat cancers through targeted treatment modalities.
Xilio Therapeutics aims to improve outcomes for cancer patients using its proprietary platform that localizes anti-tumor activity within the tumor microenvironment without causing systemic side effects common in current treatments.
Both companies caution that forward-looking statements in this announcement are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.