Zenas BioPharma and Royalty Pharma have entered into a funding agreement worth up to $300 million for the development and potential commercialization of obexelimab.
The funding includes an initial $75 million to support the potential U.S. commercial launch of obexelimab for the treatment of IgG4-Related Disease, with additional amounts tied to milestone achievements and FDA approvals.
This agreement highlights the companies' commitment to advancing obexelimab in treating autoimmune diseases and the significant financial support provided by Royalty Pharma.
Funding Agreement Details
Up to $300 million funding provided by Royalty Pharma with milestone-based payments for Phase 3 trial achievements and FDA approvals, in exchange for a 5.5% royalty on global net sales of obexelimab.
Obexelimab Development
Obexelimab, a bifunctional monoclonal antibody targeting B cell function, is in Phase 3 development for IgG4-Related Disease and Phase 2 development for other autoimmune conditions like Relapsing Multiple Sclerosis and Systemic Lupus Erythematosus.
Financial Flexibility and Milestones
The funding agreement offers Zenas financial flexibility to advance clinical programs and prepare for potential commercial launch, contingent on key milestones like Phase 3 trial results and FDA approvals.
- The funding from Royalty Pharma provides Zenas BioPharma with significant resources to accelerate obexelimab's development, potentially leading to a commercial launch in 2027 for IgG4-Related Disease.
- This partnership underscores the value placed on innovative biotech solutions for autoimmune diseases and signals confidence in the potential of obexelimab to address unmet medical needs.
The funding agreement with Royalty Pharma marks a crucial step in advancing Zenas BioPharma's obexelimab program, highlighting the strong support for innovative treatments in autoimmune diseases and the financial backing essential for successful clinical development and commercialization.