CytomX Therapeutics regains exclusive worldwide rights to ADC CX-2029 from AbbVie

CytomX Therapeutics, Inc.

Regained full worldwide rights to develop CX-2029, a CD71-targeting conditionally activated antibody drug conjugate.
AbbVie eligible for tiered sales royalties on CX-2029 ranging from low-to-mid single digit percentages.
CytomX to pay Seagen potential future milestones and tiered sales royalties (mid-to-high single digits) for linker payload tech.
Transition Agreement supersedes the terminated 2016 CD71 Co-Development and License Agreement with AbbVie.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

CytomX Therapeutics, Inc. entered into Transition Agreement with AbbVie Global Enterprises Ltd. valued at royalties low-to-mid single digit percentages; milestones and royalties mid-to-high single digit per (effective 2023-08-22).

Action: entry
Agreement: license
Counterparty: AbbVie Global Enterprises Ltd.
Value: royalties low-to-mid single digit percentages; milestones and royalties mid-to-high single digit per
Effective: 2023-08-22

Exact text from the filing

On August 22, 2023, CytomX Therapeutics, Inc. (the “Company”) entered into a Transition Agreement (the “Transition Agreement”) with AbbVie Global Enterprises Ltd. (“AbbVie”), pursuant to which the Company regained exclusive worldwide rights to develop CX-2029, a CD71-targeting conditionally activated antibody drug conjugate.

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CytomX Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-220087

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