AbbVie has signed a global collaboration agreement, worth $2 bn, with I-Mab to commercialise and develop lemzoparlimab (TJC4).
To gain an exclusive global license, excluding China, to commercialise and develop lemzoparlimab, AbbVie will pay an upfront fee of one-hundred and eighty million dollars. Furthermore, a milestone payment of twenty-million dollars will be received by I-Mab based on results from a phase I studies of the drug. Moreover, I-Mab will receive an extra one-point-seven-four billion dollars based on milestone payments, eight-hundred and forty million dollars of which is linked to clinical development and regulatory approval milestones.
“AbbVie signs a global collaboration agreement with I-Mab to commercialise and develop lemzoparlimab.“
AbbVie will also pay I-Mab tiered royalties on global net sales outside greater China if the drug demonstrates useful and obtains regulatory approval.
Lemzoparlimab, an immuno-oncology therapy, is designed to demonstrate vigorous anti-tumour activity, while also reducing binding to normal red blood cells, to help the drug bypass consequences including anaemia. This is a necessary quality in potentially differentiating the drug from other antibodies in the corresponding class that are currently being developed.
The therapy targets a cell membrane receptor which belongs to the immunoglobulin superfamily, CD47, found on the outside of various tumour types.
Senior Vice President, R&D and Chief Scientific Officer, AbbVie, Thomas Hudson, stated: "Cancer is the 2nd leading cause of death globally and the need for novel cancer therapies has never been more acute. The addition of I-Mab's novel CD47 programmes complements our global clinical strategy in haematology and immuno oncology. We have been impressed with what I-Mab has been able to accomplish in research and clinical development and we look forward to working together to make a meaningful difference in the lives of millions of patients globally.”See all the latest jobs in Pharmaceutical