AbbVie, Alphabet-Founded Calico Extends Collaboration Focused on Aging, Age-Related Diseases - Alphabet (NASDAQ:GOOG), AbbVie (NYSE:ABBV)

AbbVie Inc ABBV and Calico Life Sciences have collaborated to discover and develop new therapies for patients with age-related diseases, including neurodegeneration and cancer.
It is the second extension of the collaboration initially established in 2014.
Calico is founded by Alphabet Inc GOOG together with Calico CEO Arthur Levinson. Under the terms of the agreement, the collaboration between the two companies will extend in 2022 for an additional three years.
Calico will be responsible for research and early development until 2025 and will advance collaboration projects into Phase 2a through 2030.
AbbVie will continue to support Calico in its early R&D efforts and, following completion of Phase 2a studies, will have the option to manage late-stage development and commercial activities.
Both parties will share costs and profits equally and contribute an additional $500 million to the collaboration.
Price Action: ABBV shares are down 0.06% at $117.73 during the market session on the last check Tuesday.