CytomX Therapeutics, Inc. announced the second target selection by its partner AbbVie under the companies’ 2016 Discovery Collaboration and Licensing Agreement to discover and develop Probody drug conjugates (PDC). The target selection triggers a $10 million payment to CytomX from AbbVie. The companies are also advancing a clinical-stage asset, CX-2029, under a global co-development and licensing agreement.
 
“The initiation of this additional program with AbbVie and the associated milestone payment reflects the growing strength of clinical proof of concept CytomX has achieved in support of the Probody platform. It also further underscores the potential of our unique technology to make meaningful differences for cancer patients. We are excited to start this new program with our AbbVie colleagues,” said Sean McCarthy D.Phil., president, chief executive officer and chairman of CytomX Therapeutics.