OBT: Oxford BioTherapeutics, WuXi Bioligics ink deal to develop bispecific antibodies for cancer treatment

Oxford BioTherapeutics entered an expanded deal with WuXi Biologics potentially worth more than $450 million to develop five bispecific antibodies for the treatment of several cancer types using the latter's WuXiBody platform, the companies announced Tuesday. Under the agreed terms, WuXi Biologics will receive an undisclosed upfront payment as well as development, regulatory and commercial milestones, in addition to royalties based on global sales.