Instil Bio licenses bispecific and CTLA-4 antibodies from ImmuneOnco in deal up to $2.15B

Instil Bio, Inc.

SynBioTx (Instil subsidiary) gains exclusive license to IMM2510 (PD-L1/VEGF) and IMM27M (CTLA-4) outside Greater China.
ImmuneOnco receives $10M upfront, up to $50M near-term payments, plus up to $2.1B in milestones.
Royalties on net sales outside Greater China: single-digit to low double-digit percent.
SynBioTx can terminate for convenience on 180 days' notice; termination rights for breach or patent challenge.
ImmuneOnco retains development and commercialization rights within China, including Hong Kong, Macau, Taiwan.

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