AbbVie (ABBV) Buys Global Rights to Novel IBD Candidate [Yahoo! Finance]
AbbVie Inc. (ABBV)
Last abbvie inc. earnings: 5/1 07:43 am
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Source: Yahoo! Finance
treatment of inflammatory bowel disease (IBD), from the Chinese biotech FutureGen Biopharmaceutical. IBD includes two conditions, Crohn's disease (CD) and ulcerative colitis (UC), both characterized by chronic inflammation in the gastrointestinal tract. FG-M701, a novel TL1A inhibitor, is in pre-clinical development. It has been developed by FutureGen leveraging its Structure-based Targeted Evolution Platform technology platform. These next-generation IBD therapies are developed to drive greater efficacy and less frequent dosing than the first-generation TL1A antibodies. TL1A is a clinically validated target in IBD treatment. For the deal, AbbVie will pay $150 million in upfront and near-term milestone payments to FutureGen, with the latter also being entitled to an additional $1.56 billion in potential milestone payments plus tiered royalties on net sales if the product is ultimately approved. The deal will strengthen AbbVie's inflammatory and autoimmune disease portfolio, whic
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ABBV
Earnings
- 4/26/24 - Miss
ABBV
Sec Filings
- 6/3/24 - Form 25-NSE
- 5/31/24 - Form SD
- 5/17/24 - Form 25-NSE
- ABBV's page on the SEC website