CytomX Therapeutics, a biotechnology company developing a new generation of targeted antibody therapeutics, has entered into a global collaboration with Pfizer to develop and commercialize multiple Probody-Drug Conjugates (PDCs).

CytomX's novel Probody Platform is a proprietary, highly differentiated approach to developing safer and more effective antibody-drug conjugates (ADCs). PDCs are engineered to combine cytotoxic agents with masked Probodies that remain inert in healthy tissue but are activated specifically in the tumor microenvironment, opening up new target space for this emerging therapeutic class.

The companies will work together on preclinical research and Pfizer will be responsible for development and potential commercialization of any selected PDCs. CytomX will be eligible to receive up-front, research reimbursement and preclinical milestone payments totaling approximately $25 million, and approximately $610 million in regulatory and sales milestone payments, as well as tiered royalties reaching double digits on potential future sales.