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Third Rock Leads $30 Mil. Series B For CytomX

This article was originally published in The Pink Sheet Daily

Executive Summary

The startup, which develops antibodies designed to act selectively on diseased tissue, has two preclinical oncology programs.

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Bristol will pay $50 million upfront to use CytomX’s Probody platform for up to four cancer immunotherapy targets. The company also partnered with InCyte to study its PD-1 inhibitor nivolumab with Incyte’s oral indoleamine dioxygenase-1 inhibitor.

CytomX’s Approach To Antibody-Drug Conjugates Earns Deal With Pfizer

The privately held California biotech calls its ADC technology Probody Drug Conjugates and claims it can create antibodies that will activate in a tumor’s micro-environment, while remaining dormant in healthy tissue. Pfizer is paying $25 million divided between upfront cash and preclinical milestones for a licensing deal around CytomX’s Probody Platform technology.

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