Janssen Biotech

BioPharma, Pharma

J&J commits $125M in bet that Xencor’s bispecific antibody has an edge in blood cancers

Clinical-stage Xencor is receiving $100 million up front and a $25 million equity investment, while Johnson & Johnson’s Janssen Biotech subsidiary gets global rights to plamotamab, a bispecific antibody. Regeneron Pharmaceuticals and Roche are also developing bispecific antibodies against the same targets, but Xencor’s drug has a feature that could be a competitive advantage.