Amgen Secures License for New Drug

Amgen Inc. will license a new drug to treat autoimmune disease after reaching a deal with Xencor Inc. Amgen will have exclusive worldwide rights to the drug, known under the number XmAb5871, following the completion of a pre-defined Phase 2 study. The financial arrangement has Xencor, based in Monrovia, receiving $75 million for reaching up-front and early development milestones. Amgen would pay an additional $425 million in clinical, regulatory and commercialization milestone payments. The new drug will enhance Thousand Oaks-based Amgen’s internal efforts at developing treatments for inflammatory diseases. “Amgen’s long-time leadership in antibody development for oncology and inflammatory diseases aligns seamlessly with Xencor’s pipeline development,” said Xencor CEO Bassil Dahiyat. “The option deal structure allows us to continue to lead the development of XmAb5871 while also leveraging Amgen’s experience in developing novel biologics for unmet medical needs.” Mark R. Madler