Xilio signs AbbVie deal: $52M upfront, up to $2.1B milestones for masked T-cell engagers

Xilio Therapeutics, Inc.

Upfront $52M ($42M cash + $10M equity at $2.30/shr); AbbVie gets options for 4 masked TCE programs and license for masked antibody.
Contingent payments up to ~$2.1B in option fees and milestones plus tiered mid-to-high single-digit royalties.
Xilio announces three wholly-owned preclinical masked TCE programs targeting PSMA, CLDN18.2, STEAP1 with candidate nomination timelines through 2027.
Cash runway extended into Q1 2026 with upfront payments; additional milestones require further capital.
Collaboration validates Xilio's tumor-activation platform; CEO highlights potential to improve TCE tolerability.

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