Xencor, Amgen In $1.7 Billion Deal

Thousand Oaks-based Amgen, and Monrovia, California-based Xencor said this morning they are in a strategic collaboration worth as much as $1.7 billion to Xencor, to develop and commercialize cancer immunotherapy and inflammation drugs. The two said that Amgen will pay Xencor $45M upfront, with the potential of up to $1.7 billion based on certain regulatory and sales milestones, to combine Amgen's target discovery and protein therapeutics efforts with Xencor's XmAb b ispecific technology platform. The two said that Amgen will be fully responsible for preclinical and clinical development and commercialization worldwide.