Pfenex Inc. and Arcellx Inc. announced a Development, Evaluation and License agreement under which Arcellx gains access to the proprietary Pfenex Expression Technology® platform to advance multiple proprietary sparX proteins that activate, silence and reprogram Antigen- Receptor Complex T cell based therapies. Pfenex has successfully completed expression screening and process development activities for the first sparX program. Technology transfer of the program to a cGMP manufacturing facility is underway. The success of the first program has encouraged both parties to initiate a second sparX program, both programs are focused on the treatment of hematologic malignancies. Under the terms of the agreement, Pfenex is eligible to receive development funding in addition to development, regulatory and commercial milestones ranging from $2.6 million up to $18 million for each product incorporating a SparX protein expressed using the Pfenex Expression Technology® as well as royalties on worldwide sales of any such products.