---
schema_version: "secwatch.filing_event.v1"
accession: "0001326732-23-000044"
form_type: "8-K"
ticker: "XNCR"
cik: "0001326732"
company_name: "Xencor Inc"
filed_at: "2023-11-15T23:59:59+00:00"
generated_at: "2026-06-08T02:06:03.619148+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Xencor converts Genentech collaboration to royalty/milestone deal; up to $600M in milestones

## Summary
- New agreement replaces cost/profit-sharing with tiered royalties (low double-digit to mid-teens percent) starting June 1, 2024.
- Xencor eligible for up to $600M in milestones: $115M development, $185M regulatory, $300M sales-based.
- Genentech assumes sole responsibility for all clinical, regulatory, and commercial activities post-effective date.
- Original collaboration agreement remains in effect until May 31, 2024; Xencor had exercised royalty conversion option.

## SEC filing metadata
- accession: 0001326732-23-000044
- form_type: 8-K
- ticker: XNCR
- cik: 0001326732
- company_name: Xencor Inc
- filed_at: 2023-11-15T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326732/000132673223000044/0001326732-23-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326732/000132673223000044/xncr-20231114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001326732-23-000044
- JSON: https://secwatch.observer/filing/0001326732-23-000044.json
- Plain text: https://secwatch.observer/filing/0001326732-23-000044.txt

## Key facts
- Material Agreements
  Xencor Inc entered into Amended and Restated Collaboration and License Agreement with Genentech, Inc. and F. Hoffmann-La Roche Ltd valued at $600 million in milestones; tiered royalties from low double-digit to mid-teens percentages (effective 2024-06-01).
  - Action: entry
  - Agreement: license
  - Counterparty: Genentech, Inc. and F. Hoffmann-La Roche Ltd
  - Value: $600 million in milestones; tiered royalties from low double-digit to mid-teens percentages
  - Effective: 2024-06-01
  source text: On November 14, 2023, the Company entered into an Amended and Restated Collaboration and License Agreement (the “New Collaboration Agreement”) with Genentech, Inc., a Delaware corporation, having its principal place of business at 1 DNA Way, South San Francisco, California 94080 (“GNE”), and F. Hoffmann-La Roche Ltd, a corporation organized and existing under the laws of Switzerland, having its principal place of business at Grenzacherstrasse 124, CH 4070 Basel, Switzerland (“Roche”) (GNE and Roche, collectively, “Genentech”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326732/000132673223000044/0001326732-23-000044-index.htm
- Material Agreements
  Xencor Inc entered into Royalty Conversion arrangement under the New Collaboration Agreement with Genentech, Inc. and F. Hoffmann-La Roche Ltd valued at tiered royalties on a product-by-product and country-by-country basis ranging from low double-digit (effective 2024-06-01).
  - Action: entry
  - Agreement: collaboration
  - Counterparty: Genentech, Inc. and F. Hoffmann-La Roche Ltd
  - Value: tiered royalties on a product-by-product and country-by-country basis ranging from low double-digit
  - Effective: 2024-06-01
  source text: Pursuant to the Royalty Conversion, in connection with any program under the Original Collaboration Agreement, including XmAb306 (RO7310729), the Company will be entitled to receive tiered royalties on a product-by-product and country-by-country basis ranging from low double-digit to mid-teens percentages.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326732/000132673223000044/0001326732-23-000044-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.