October 2021 Top Biopharma Deal: Xencor – Janssen for Plamotamab and XmAb Bispecific Antibodies
October 2021 Top Biopharma Deal Upfront
Xencor development and commercialization deal with Janssen for plamotamab and XmAb bispecific antibodies
Highlighted Deal Financial Comps
Date Announced:
October 4, 2021
Total Deal Value:
$1,313M
Upfront Cash:
$100M
Upfront Equity:
$25M
Option Payments:
n/a
Total Milestones:
$1,188M (Dev., Reg., and Sales)
Royalties:
Tiered mid-teen to low-twenties
Cost & Profit Split:
n/a
Deal Synopsis
The Asset:
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.
Deal Structure:
Development and Commercial License
Partnership Features:
Co-Development and co-promotion option to add compounds.
Deal Details:
- 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.
Last Month:
Congrats to Xencor and Janssen for landing the DealForma October 2021 Deal of the Month. 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.
20,378
Licensing Deals
17,730
Funding Rounds
4,034
M&A
31,012
Company Profiles
5,478
Other Deals
26,505
Drug Sales Figures
All of this by stage, disease indication, modality, target...
More Research by DealForma
Introducing: DealForma plus Tableau
We are excited to introduce DealForma's new Tableau dashboard integration. High quality data on biopharma deals and funding meets interactive charts and visuals. DealForma customers will have exclusive access to the DealForma chart dashboards built on Tableau right...
Venture & IPO – Medtech – Q1 2023
The Medtech sector encompasses medical devices, diagnostics, and digital health solutions, playing a crucial role in healthcare. In Q1 2022, the medtech, devices, digital health therapeutics, and wearables sector experienced a strong opening with 95 funding rounds and...