Novartis has entered into a collaboration and license agreement with California-based Xencor in a deal worth US$2.56 B to further diversify company’s existing immuno-oncology portfolio. The deal allows Novartis to develop and commercialise two bispecific antibodies, XmAb®14045 and XmAb®13676, for haematological malignancies; both assets are in preclinical development with clinical studies are expected to begin in latter half of 2016.