Pharma BD Deal Intelligence
Genentech (Roche Group) and Xencor entered a research and license agreement, announced February 5, 2019 and closed effective March 8, 2019 after HSR clearance, to develop novel IL-15 cytokine therapeutics led by XmAb24306 (later RG6323 / efbalropendekin alfa), an IL-15/IL-15Ra-Fc complex built on Xencor's bispecific Fc and Xtend technology. Xencor received $120M upfront and was eligible for up to $160M in clinical milestones per program plus additional development milestones (more than $1.5B in aggregate potential across the IL-15 portfolio), and could share 45% of net profits/losses on XmAb24306. The partnership subsequently unwound: Xencor opted out of the 45% cost-sharing in the first half of 2024, leaving Genentech as sole funder; Roche removed efbalropendekin alfa from its development pipeline in January 2025; and on March 4, 2026 Xencor disclosed that Genentech will terminate the collaboration and license agreement effective September 4, 2026 — the lead asset never advanced to a profit-sharing commercial stage.