October 2021 Top Biopharma Deal: Xencor – Janssen for Plamotamab and XmAb Bispecific Antibodies
Top Biopharma Partnership by Upfront Cash and Equity
Xencor development and commercialization deal with Janssen for plamotamab and XmAb bispecific antibodies
Announced: October 4, 2021
Total Deal Value: $1,313M
Upfront Cash: $100M
Upfront Equity: $25M
Option Payments: n/a
Milestones: $1,188M (Dev., Reg., and Sales)
Royalty: Tiered mid-teen to low-twenties
Cost and Profit Split: n/a
Phase I plamotamab, its CD20 x CD3 XmAb bispecific antibody as a monotherapy or in combination regimens, and new XmAb B-cell targeting bispecific antibodies for the treatment of CD20-expressing hematologic malignancies.
Development and Commercial License
Co-Development and co-promotion option to add compounds.
- Xencor granted Janssen exclusive, worldwide rights to develop and commercialize plamotamab, its CD20 x CD3 XmAb bispecific antibody as a monotherapy or in combination regimens, and new XmAb B-cell targeting bispecific antibodies for the treatment of CD20-expressing hematologic malignancies.
- Janssen will pay 80% of costs and Xencor 20%.
- Additionally, Xencor and Janssen signed a two-year research partnership to discover XmAb CD28 bispecific antibody applicants against B-cell targets by utilizing Xencor’s XmAb bispecific Fc technology while Janssen has an exclusive worldwide option to license and develop selected molecules in combination with plamotamab and other agents.
- Xencor has the option to co-fund development costs in return for higher royalties and co-detailing rights for such products in the US.
- Xencor will receive $100M in upfront cash, $25M in upfront equity investment, and is eligible for up to $1.19B in development, regulatory, and sales milestones, plus tiered mid-teen to low-twenties royalties.
The Deal of the Month for September 2021 was REGENXBIO and AbbVie’s deal with $370M up front for RGX-314. Read about it here.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms. We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.
Want data for your analysis? Want us to do it? Subscribers get both.
Schedule your demo of the DealForma database to see how we help you get better reports done faster.
Specifically for Biotech, Pharma, Device, and Diagnostics
Get more done.
Stop cleaning data or getting lost in legacy databases. We built DealForma to help you be better and faster at business research. Schedule your customized demo to see how DealForma helps you impress your boss and sign-off early.
More Research by DealForma
November 2021 Top Biopharma Deal: Sanofi – Owkin artificial intelligence and federated learning platform to advance Sanofi’s oncology pipeline
The top deal upfront for November 2021 was the Owkin – Sanofi artificial intelligence and federated learning platform research partnership to advance Sanofi’s oncology pipeline. Owkin will receive a $180M upfront equity investment, $90M in R&D funding over 3 years, and is eligible for additional undisclosed R&D milestones.
The top deal upfront for September 2021 was the REGENXBIO – AbbVie deal for RGX-314 for wet AMD, diabetic retinopathy, and other chronic retinal diseases. REGENXBIO will receive $370M up front and is eligible for up to $1.38B in milestones, plus tiered royalties on net sales of RGX-314 outside the US and 50% of profits in the US.
August 2021 Top Biopharma Deal: RemeGen – Seagen HER2-targeted ADC, Disitamab Vedotin for Solid Tumors
The top deal upfront for August 2021 was the RemeGen – Seagen deal for HER2-targeted ADC disitamab vedotin for solid tumors. RemeGen will receive $200M in cash up front and is eligible to receive up to $2.4 billion in milestones, plus tiered, high single-digit to mid-teen royalties.
Top Biopharma Deal July 2021: Arvinas – Pfizer ARV-471 PROTAC Protein Degrader for ER+/HER2- Breast Cancer
The top biopharma deal upfront for July 2021 was Arvinas and Pfizer’s partnership for PROTAC protein degrader ARV-471 ER+/HER2- breast cancer. Arvinas will receive $650M in cash up front, $350M in an equity investment, and is eligible to receive up to $1.4 billion in milestones, plus a 50% cost and profit split.
The top biopharma deal upfront for June 2021 was iTeos and GSK’s partnership for anti-TIGIT mAb EOS-448. iTeos will receive $625M up front, up to $1.45B in milestones, a U.S. profit split and ex-U.S. tiered royalties.
Top Biopharma Deal May 2021: Agenus – BMS for AGEN-1777 Bispecific Anti-TIGIT Antibody for Non-Small Cell Lung Cancer
The top biopharma deal upfront for May 2021 was Agenus and BMS’ partnership for anti-TIGIT mAb AGEN-1777. Agenus will receive $200M up front.
Top Biopharma Deal April 2021: CRISPR – Vertex for CTX001 for Sickle Cell Disease and Transfusion-Dependent Beta-Thalassemia
CRISPR Therapeutics and Vertex Pharmaceuticals amended their 2015 deal to develop and commercialize gene editing therapies. This expansion is for Phase I/II CTX001 for severe sickle cell diseases and transfusion-dependent beta-thalassemia. CRISPR will receive $900M up front, up to $200M in milestones upon the first regulatory approval, and a cost/profit split of 40%.
Debiopharm granted Merck exclusive, worldwide rights to develop and commercialize Xevinapant in Phase III for advanced squamous cell carcinoma of the head and neck. Debiopharm will receive EUR188M ($227M) up front and is eligible for up to EUR710M ($856M) in milestones, plus royalties. This was the largest upfront cash and equity for a partnership signed in March 2021.
Biotech and pharma deals in 2020 soared to an all-time high of 1,154 signed deals with $146.3 billion in total value, defying expectations that the global Covid-19 pandemic would hamper dealmaking. Global healthcare and life sciences R&D partnership activity was up 23 percent over 2019 and total deal values rose 31 percent from the previous year, driven in part by advances in technological and molecular understandings of disease pathways, and a drive toward targeted precision medicines.
Vir Biotechnology and GSK expanded their partnership with a new deal to develop VIR-2482 and mAbs for influenza. This was the largest upfront cash and equity for a partnership signed in Feb. 2021.
You met on Zoom. Now it's Deal Time.
With thousands of company profiles and a decade of deals specifically in biopharma and medtech, you'll take the guesswork out of deal comps. Schedule your customized demo to see how DealForma helps you win that term sheet with better data.