AbbVie and Scripps Research to Collaborate for Drug DevelopmentBy
AbbVie has formed a collaboration to develop new therapies for a range of diseases in therapeutic areas of oncology, immunology, neurology and fibrosis with Scripps Research, a non-profit biomedical research and drug-discovery organization. AbbVie will make an undisclosed upfront payment, as well as a near-term milestone payment upon achievement of certain success criteria.
In addition to programs initially named in the collaboration from preclinical to investigational new drug stages of development, Scripps Research will present to AbbVie a certain number of preclinical programs of mutual interest per year for consideration to be included in the collaboration. Scripps and AbbVie will also work together in parallel to advance CD3 bispecifics against oncology targets nominated by AbbVie.
Under the agreement, Scripps Research will continue to conduct pre-clinical research and development activities and, in some cases, Phase I clinical trials with AbbVie having an exclusive option to further develop and commercialize. Upon AbbVie’s decision to exercise its option to a given program, Scripps Research is eligible to receive additional payments from AbbVie, including option exercise fees, success-based development and commercial milestone payments, as well as tiered royalties. AbbVie will make an undisclosed upfront payment, as well as a near-term milestone payment upon achievement of certain success criteria.
Source: AbbVie, Scripps Research