Instil Bio’s Axion discontinues clinical development of AXN-2510

Instil Bio (TIL) announced that Axion Bio, a wholly-owned subsidiary of Instil, has decided to discontinue clinical development of AXN-2510 and that Axion and ImmuneOnco Biopharmaceuticals have entered into an agreement terminating their license and collaboration agreement for AXN-2510 and AXN-27M. Under the terms of the Termination Agreement, all rights previously licensed to Axion, including global development and commercial rights outside Greater China, have reverted to ImmuneOnco, subject to a limited license to Axion to wind down its clinical development activities.