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Biotech / Medical : Xencor (XNCR) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (88)	9/7/2016 1:08:02 PM
From: scaram(o)uche	Respond to of 136

This is a very nice wrinkle..... "mid single-digit tiered royalties for worldwide sales of the four proprietary Novartis bi-specific molecules, unless Xencor exercises its right to co-detail one of these molecules and share in the costs and U.S. profit." Seems sort of late in the game to be licensing bispecific capacity? There are three moving parts to the Novartis deal, inked shortly before Novartis shut down their cell engineering (car-T) group. I looked at this "wrinkle", the third moving part, and wondered at the time of license, what it meant to Novartis. It clearly shows, my opinion, that they didn't have Fc technology to match competitors...... that they got caught by the short hairs. I've come to the opinion that Novartis retains all of their interest in immuno onc, that they shut down the group due to failure to innovate sufficiently relative to competition (XNCR, KITE, etc.). I mean, licensing bi-specific technology in 2016, when you've got a mature program?????? If I were Jimenez, I might have been a tad upset. Continue to believe that the Fc's are the product, that additional future partners are knocking on same door.