CytomX Therapeutics Announces Nomination of Second Clinical Candidate in Broad PROBODY® T-Cell Engaging Bispecific (TCB) Collaboration with Astellas
- None.
- None.
The announcement of CytomX Therapeutics achieving a second clinical candidate nomination in collaboration with Astellas is significant for both companies involved. The milestone payment of $5 million not only reflects a tangible progress in their joint venture but also strengthens CytomX's financial position. The collaboration focuses on developing T-cell engaging bispecifics, which are a novel class of therapeutics that could revolutionize the treatment of solid tumors. The Probody® platform, which is used to develop these therapeutics, is designed to activate therapeutic antibodies in the tumor microenvironment, potentially reducing systemic toxicity and improving efficacy.
From a business perspective, CytomX's retention of co-commercialization and economic rights for select programs is a strategic move. It allows the company to maintain a degree of control and potential profitability within the US market. For investors, the progress in clinical development and the retention of these rights could signal potential for future revenue streams. However, it's important to note that clinical development is inherently risky and the long-term success of these programs is not guaranteed.
The receipt of a milestone payment is a positive liquidity event for CytomX and provides investors with a metric to gauge the progress of the company's pipeline. The $5 million inflow can support ongoing research and development efforts, which is critical for a biotech firm that relies on achieving developmental milestones. Additionally, the potential for future preclinical, clinical and commercial milestones suggests a structured revenue model that could benefit CytomX in the long run.
Investors should also consider the implications of the co-commercialization agreement. While it presents an opportunity for increased revenues in the future, it also implies shared profits and responsibilities. The exact terms of the cost share will affect the financial outcomes for CytomX. As the biotechnology market is highly competitive, the success of these therapies will depend on their clinical efficacy, safety profile and the company's ability to navigate the regulatory landscape.
The advancement of a second Probody® TCB program into clinical candidate status is noteworthy in the field of oncology. T-cell engagers are a promising approach in immuno-oncology, aiming to harness the body's immune system to fight cancer more effectively. The conditionally activated mechanism of the Probody® platform could address some of the limitations of current cancer treatments by potentially reducing off-tumor effects and improving the safety profile for patients.
For stakeholders in the oncology sector, this development is a sign of innovation and forward movement in targeted cancer therapies. It is important to monitor the clinical trial results for efficacy and safety data, as these will be pivotal in determining the potential impact on patient care and the competitive landscape. Solid tumors represent a challenging area with high unmet medical needs and advancements in this space could lead to significant improvements in patient outcomes.
- Achievement of latest clinical candidate triggers additional
- CytomX-retains US co-commercialization and economic rights for select programs -
SOUTH SAN FRANCISCO, Calif., April 03, 2024 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. today announced the achievement of a second clinical candidate nomination under the companies’ TCB collaboration with Astellas, triggering a
“The achievement of clinical candidate nomination for the second Probody® TCB program in our broad collaboration with Astellas underscores our capabilities in the exciting field of conditionally activated, masked T-cell engaging bispecifics. T-cell engagers offer new possibilities for the treatment of solid tumors and the PROBODY® platform may be ideally suited to realizing the potential of this modality,” said Sean McCarthy, D. Phil, chief executive officer and chairman of CytomX.
“At Astellas, immuno-oncology is a Primary Focus of our research and development strategy, and the rapidly advancing field of masked bispecific immune cell engagers holds tremendous promise for patients,” stated Peter Sandor, M.D., Senior Vice President and Primary Focus Lead, Immuno-Oncology. “We are delighted with the progress in our broad alliance in this area with CytomX and look forward to the continued collaboration successes as we expand our next-generation immuno-oncology therapeutic pipeline to address areas of high unmet medical need.”
About CytomX Therapeutics
CytomX is a clinical-stage, oncology-focused biopharmaceutical company focused on developing novel conditionally activated biologics designed to be localized to the tumor microenvironment. By pioneering a novel pipeline of localized biologics, powered by its PROBODY® therapeutic platform, CytomX’s vision is to create safer, more effective therapies for the treatment of cancer. CytomX’s robust and differentiated pipeline comprises therapeutic candidates across multiple treatment modalities including antibody-drug conjugates (“ADCs”), T-cell engagers, and immune modulators such as cytokines. CytomX’s clinical-stage pipeline includes CX-904, CX-2051 and CX-801. CX-904 is a conditionally activated T-cell-engaging antibody targeting the epidermal growth factor receptor (EGFR) on tumor cells and the CD3 receptor on T cells and partnered with Amgen in a global co-development alliance. CX-2051 is a conditionally activated ADC directed toward epithelial cell adhesion molecule, EpCAM, with potential applicability across multiple EpCAM-expressing epithelial cancers. CX-801 is an interferon alpha-2b PROBODY® cytokine with broad potential applicability in traditionally immuno-oncology sensitive as well as insensitive (cold) tumors. CytomX has established strategic collaborations with multiple leaders in oncology, including Amgen, Astellas, Bristol Myers Squibb, Regeneron and Moderna. For more information about CytomX and how it is working to make conditionally activated treatments the new standard-of-care in the fight against cancer, visit www.cytomx.com and follow us on LinkedIn and X (formerly Twitter).
CytomX Therapeutics Forward-Looking Statements
This press release includes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that are difficult to predict, may be beyond our 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, including those related to the future potential of partnerships or collaboration agreements. Accordingly, you should not rely on any of these forward-looking statements, including those relating to the potential benefits, safety and efficacy or progress of CytomX’s or any of its collaborative partners’ product candidates, including CX-2051, CX-801, and CX-904, the potential benefits or applications of CytomX’s PROBODY® therapeutic platform, CytomX’s or its collaborative partners’ ability to develop and advance product candidates into and successfully complete clinical trials, including the ongoing and planned clinical trials of CX-904, and the timing of the commencement of clinical trials or initial and ongoing data availability for CX-801 and CX-2051, and other development milestones. Risks and uncertainties that contribute to the uncertain nature of the forward-looking statements include: the unproven nature of CytomX’s novel PROBODY® therapeutic technology; CytomX’s clinical trial product candidates are in the initial stages of clinical development and its other product candidates are currently in preclinical development, and the process by which preclinical and clinical development could potentially lead to an approved product is long and subject to significant risks and uncertainties, including the possibility that the results of preclinical research and early clinical trials may not be predictive of future results; the possibility that CytomX’s clinical trials will not be successful; the possibility that current preclinical research may not result in additional product candidates; CytomX’s dependence on the success of CX-904, CX-801, and CX-2051; CytomX’s reliance on third parties for the manufacture of the Company’s product candidates; possible regulatory developments in the United States and foreign countries; and the risk that we may incur higher costs than expected for research and development or unexpected costs and expenses. Additional applicable risks and uncertainties include those relating to our preclinical research and development, clinical development, and other risks identified under the heading "Risk Factors" included in CytomX’s Annual Report on Form 10-K filed with the SEC on March 11, 2024. The forward-looking statements contained in this press release are based on information currently available to CytomX and speak only as of the date on which they are made. CytomX 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.
PROBODY is a U.S. registered trademark of CytomX Therapeutics, Inc.
CytomX Investor Contact:
Chris Ogden
SVP, Finance and Accounting
cogden@cytomx.com
CytomX Investor and Media Contact:
Stern Investor Relations
Stephanie Ascher
stephanie.ascher@sternir.com
