Astellas Pharma Inc. and Kelonia Therapeutics announced that Xyphos Biosciences, Inc., (a wholly owned subsidiary of Astellas) and Kelonia have entered into a research collaboration and license agreement to develop novel Immuno-Oncology therapeutics.
Kelonia is a biotech company pioneering a new wave of genetic medicines using its in vivo gene placement system (iGPS®). iGPS® uses next generation lentiviral particles to efficiently deliver genetic cargo precisely to the desired target cells inside the patient's body. Xyphos holds a novel and proprietary ACCEL™ technology*1 platform that uses its convertibleCAR® (convertible Chimeric Antigen Receptor)*1 on immune cells.
Under the terms of the agreement, the companies plan to combine Kelonia's iGPS® with Xyphos' ACCEL™ technology to develop innovative in vivo CAR-T Cell therapies*2 targeting up to two programs. Xyphos will be responsible for the development and commercialization of products created from the collaborative research. Kelonia will receive US $40 million upfront for the first program, and an additional US $35 million should Xyphos exercise its options for the second program, and potential milestones and contingency payments approaching US $800 million in total. Additionally, Kelonia will receive R&D funding for work performed in the collaboration and is eligible for tiered royalties on net sales up to the double digit percentage.
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