Partnering News: AbbVie, Takeda, Novo Nordisk & More 

A roundup of bio/pharmaceutical partnering news from AbbVie/FutureGen Biopharmaceutical, Takeda/Ascentage Pharma and Novo Nordisk/Biosplice. 

* AbbVie, FutureGen Biopharmaceutical in $1.71-Bn IBD Drug Pact  
* Takeda, Ascentage Pharma in $1.3-Billion Rare-Disease Anti-Cancer Pact 
* Novo Nordisk, Biosplice In Diabetes Drug Pact 

AbbVie, FutureGen Biopharmaceutical in $1.7-Bn IBD Drug Pact 
AbbVie and FutureGen Biopharmaceutical, a Beijing-based bio/pharmaceutical company, have entered a license agreement to develop FutureGen’s FG-M701, a TL1A antibody for treating inflammatory bowel disease currently in preclinical development, in a deal worth up to $1.71 billion ($150 million upfront and $1.56 billion in milestone payments). 

Under the agreement, AbbVie will receive an exclusive global license to develop, manufacture, and commercialize FG-M701. FutureGen will receive $150 million in upfront and near-term milestone payments and will be eligible to receive up to an additional $1.56 billion in clinical development, regulatory, and commercial milestones, as well as tiered royalties up to low-double digits on net sales. 

Source: AbbVie  

Takeda, Ascentage Pharma in $1.3-Billion Rare Disease Anti-Cancer Drug Pact 
Ascentage Pharma, a bio/pharmaceutical company based in Rockville, Maryland, and Suzhou, China, has signed an option agreement with Takeda to enter into an exclusive license agreement for Ascentage’s olverembatinib, for treating chronic myeloid leukemia (CML) and other hematological cancers, in a deal worth up to $1.3 billion ($100 million upfront, $1.2 billion in potential milestones, plus an equity investment by Takeda in Ascentage Pharma). 

Olverembatinib is a BCR-ABL tyrosine kinase inhibitor (TKI) and is currently approved and marketed in China for the treatment of adult patients with TKI-resistant chronic-phase CML (CP-CML) or accelerated-phase CML (AP-CML) harboring the T315I mutation and in adult patients with CP-CML resistant to and/or intolerant of first- and second-generation TKIs. Olverembatinib has been granted orphan drug designation and fast-track designation by the US Food and Drug Administration and orphan designation by the European Medicines Agency.  

Under the terms of the option agreement, Ascentage Pharma is set to receive $100 million from Takeda to acquire the option to license olverembatinib. Ascentage will also be eligible for an option exercise fee and additional potential milestones of up to approximately $1.2 billion. If exercised, the option would allow Takeda to license global rights to develop and commercialize olverembatinib in all territories outside of mainland China, Hong Kong, Macau, Taiwan and Russia. Additionally, Ascentage Pharma is expected to receive a minority equity investment from Takeda. In addition, as part of the agreement, Ascentage Pharma will continue to be solely responsible for all clinical development of olverembatinib prior to potential exercise of the option to license.  

Source: Takeda 

Novo Nordisk, Biosplice In Diabetes Drug Pact 
Novo Nordisk and Biosplice Therapeutics, a San Diego, California-based bio/pharmaceutical company, have entered a collaboration to develop drug candidates for the treatment of diabetes.    

The collaboration combines Novo Nordisk’s expertise in diabetes and Biosplice’s research and development efforts focused on creating selective and potent dual-specificity, tyrosine phosphorylation-regulated kinase (DYRK) inhibitors. 

Under the agreement, Novo Nordisk will fund further preclinical development, with an exclusive option to license Biosplice’s relevant intellectual property primarily focused on cardiometabolic disorders. Specific financial terms were not disclosed, but would include upfront and milestone payments plus royalties for the exclusive license. 

Source: Biosplice Therapeutics