Wuxi XDC offers up to 22.3 million shares at HK$58.85 each

Wuxi XDC offers up to 22.3 million shares at HK$58.85 each

WALTHAM, Mass. and New York, Sept. 02, 2025 (GLOBE NEWSWIRE) — Zenas BioPharma, Inc. (Nasdaq: ZBIO) and Royalty Pharma plc (Nasdaq: RPRX) have announced a significant funding agreement for the development and commercialization of obexelimab, an investigational bifunctional monoclonal antibody designed to treat Immunoglobulin G4-Related Disease (IgG4-RD) and other autoimmune diseases.

Under the agreement, Royalty Pharma will provide up to $300 million in funding to Zenas BioPharma. This includes an initial upfront payment of $75 million, with three additional payments of $75 million each upon the achievement of specific milestones, including the topline results from the Phase 3 INDIGO trial, U.S. FDA approval for IgG4-RD, and U.S. FDA approval for Systemic Lupus Erythematosus (SLE). In exchange, Royalty Pharma will receive a 5.5% royalty on worldwide net sales of obexelimab by Zenas and its affiliates.

Lonnie Moulder, Founder and Chief Executive Officer of Zenas BioPharma, commented, "We are very pleased to partner with Royalty Pharma as we rapidly advance our broad obexelimab program through late-stage development and into global commercialization. This transaction underscores our conviction in the potential of obexelimab as a franchise molecule and provides us with financial flexibility to rapidly advance our clinical programs and fund the commercial launch of obexelimab if approved for the treatment of IgG4-RD."

Pablo Legorreta, Founder and CEO of Royalty Pharma, added, "We are delighted to partner with Zenas as they develop obexelimab in IgG4-RD and other autoimmune diseases. There is clear unmet need in IgG4-RD where obexelimab, with its exciting novel B cell modulating mechanism of action, has demonstrated compelling proof-of-concept."

Obexelimab is currently in Phase 3 development for IgG4-RD and Phase 2 development for Relapsing Multiple Sclerosis (RMS) and Systemic Lupus Erythematosus (SLE). The funding from Royalty Pharma will support obexelimab development and a potential IgG4-RD commercial launch in the first half of 2027, subject to FDA approval. With the receipt of the initial $75 million payment, Zenas BioPharma expects to have sufficient cash to fund its operations through the first quarter of 2027.

This agreement builds on Royalty Pharma's record year in announced value of synthetic royalty transactions, reflecting the compelling advantages this funding paradigm offers to innovative biotech companies. Advisors Evercore acted as exclusive financial advisor and Ropes & Gray LLP acted as legal advisor to Zenas BioPharma. Goodwin Procter LLP and Maiwald GmbH acted as legal advisors to Royalty Pharma.

References:
[1] https://www.globenewswire.com/news-release/2025/09/02/3142507/0/en/Zenas-BioPharma-and-Royalty-Pharma-Enter-into-Obexelimab-Funding-Agreement-for-up-to-300-Million.html