Pyxis Oncology In-Licenses Anti-Siglec-15 Monoclonal Antibody From Biosion

Pyxis Oncology Inc PYXS has received an exclusive license to develop and commercialize Biosion Inc's anti-Siglec-15 monoclonal antibody, BSI-060T (now referred to as PYX-106), worldwide, excluding Greater China. 

• Under the agreement terms, Biosion will receive a $10 million upfront license fee from Pyxis Oncology. 
• In addition, Biosion has the potential to receive significant milestone payments for PYX-106, totaling up to $222.5 million, and single to low double-digit royalties on commercial sales. 
• Pyxis Oncology plans to submit the IND for PYX-106 to the FDA by 2H of 2022 and initiate a Phase 1 trial shortly after that. 
• Under the agreement, Pyxis Oncology has the opportunity to license additional preclinical assets that target anti-Siglec-15 using other treatment approaches.
• Price Action: PYXS shares are down 1.44% at $4.78 during the market session on the last check Tuesday.