Shots:

• Caris to receive an up front & will be eligible to receive ~$120M in license fees, discovery, development, regulatory & sales-based milestones along with royalty on net sales of each product commercialized by Xencor
• Caris gets the rights for molecular profiling & companion diagnostics for drug candidates & will use its discovery platform to identify novel targets for bispecific Ab drug candidates. Xencor to get an exclusive option to research, develop & commercialize the products directed to ~3 targets
• The collaboration will combine Caris' multi-omics target discovery engine with Xencor's XmAb engineering platform to manufacture bispecific Abs for the development of therapies to treat cancer

Ref: PR Newswire | Image: Caris Life Sciences