US-based startup Zenas BioPharma has entered into a license and collaboration agreement with Bristol Myers Squibb Company to develop and commercialise obexelimab for autoimmune diseases in Japan, South Korea, Taiwan, Singapore, Hong Kong and Australia.

Obexelimab is an investigational bifunctional, non-cytolytic, humanised monoclonal antibody that binds CD19 and FcγRIIb to inhibit B cells, plasmablasts, and CD19-expressing plasma cells. Obexelimab is currently being studied as a subcutaneous injection in a global Phase III trial in patients with IgG4-Related Disease (IgG4-RD), a disease for which there are currently no approved treatments. The compound is also being studied in a global Phase II/III trial in patients with warm antibody Auto-Immune Hemolytic Anemia (wAIHA).

Under the terms of the license agreement, Zenas will receive a $50 million up-front cash payment and is eligible to receive additional payments in connection with the achievement of certain development, regulatory and commercial milestones, as well as royalties on net sales of obexelimab in the licensed territory. In exchange, Bristol Myers Squibb will receive exclusive rights to develop and commercialise obexelimab in the licensed territory. In addition, Bristol Myers Squibb is making an equity investment in Zenas.