SOUTH SAN FRANCISCO, Calif., Feb. 19, 2021 (GLOBE NEWSWIRE) — CytomX Therapeutics, Inc. (Nasdaq: CTMX), a clinical-stage oncology-focused biopharmaceutical firm pioneering a novel class of investigational conditionally-active antibody therapeutics primarily based on its Probody® expertise platform, at the moment introduced that on February 15, 2021, the Firm granted a brand new worker an choice to buy a complete of 65,000 shares of the Firm’s widespread inventory at an train worth per share equal to $8.64, which was the closing buying and selling worth on February 16, 2021, the date of the grant.
The inventory choices have been granted pursuant to the Firm’s 2019 Employment Inducement Incentive Plan, which was authorised by the Firm’s board of administrators in August 2020 underneath Rule 5635(c)(4) of The Nasdaq International Marketplace for fairness grants to induce new workers to enter into employment with the Firm.
About CytomX Therapeutics
CytomX is a clinical-stage, oncology-focused biopharmaceutical firm with a imaginative and prescient of reworking lives with safer, simpler therapies. We’re growing a novel class of investigational conditionally-active antibody therapeutics, primarily based on our Probody® expertise platform, for the remedy of most cancers. CytomX has strategic drug discovery and growth collaborations with AbbVie, Amgen, Astellas, and Bristol Myers Squibb.
Probody therapeutics are conditionally-active antibodies designed to stay inactive till they’re activated by proteases within the tumor microenvironment. Consequently, Probody therapeutics are meant to bind selectively to tumors and reduce binding to wholesome tissue, to reduce toxicity and probably create safer, simpler therapies. As leaders within the area, our modern expertise is designed to show beforehand undruggable targets into druggable targets and to allow simpler mixture therapies. CytomX and its companions, comprised of main biotechnology and pharmaceutical firms, have developed a sturdy pipeline of potential first-in-class therapeutic candidates towards novel, tough to drug targets and potential best-in-class immunotherapeutic candidates towards clinically validated targets. The CytomX clinical-stage pipeline contains 5 belongings, 4 of that are in Section 2 medical research. First-in-class product candidates towards beforehand undruggable targets embrace a CD166-targeting conditionally-active antibody-drug conjugate wholly owned by CytomX (praluzatamab ravtansine, CX-2009) and a CD71-targeting conditionally-active antibody-drug conjugate partnered with AbbVie (CX-2029). CD166 and CD71 are amongst most cancers targets which can be thought of to be inaccessible to standard antibody-drug conjugates resulting from their presence on many wholesome tissues. The CytomX clinical-stage pipeline additionally contains most cancers immunotherapeutic candidates towards validated targets such because the CTLA-4-targeting conditionally-active antibody therapeutics, BMS-986249 and BMS-986288, partnered with Bristol Myers Squibb, and our wholly-owned conditionally-active anti-PD-L1 antibody, pacmilimab (CX-072). For added details about CytomX Therapeutics, go to www.cytomx.com and observe us on LinkedIn and Twitter.
Probody is a U.S. registered trademark of CytomX Therapeutics, Inc.
Chau Cheng, PhD MBA
VP, Investor Relations & Corp. Communications
Direct: (650) 273-4999
Investor and Media Contact:
Stern Investor Relations