AbbVie, Cugene Ink Licensing Pact For Autoimmune & Inflammatory Disease Candidate - AbbVie (NYSE:ABBV)

AbbVie Inc (ABBV) and Cugene Inc have announced an exclusive worldwide license option agreement for CUG252 for the potential treatment of autoimmune and inflammatory diseases.
Cugene's lead candidate, CUG252, is an engineered IL-2 mutein designed to selectively activate and expand immune-suppressive Treg cells while reducing undesired IL-2 activity on other IL-2 receptor-expressing cells for autoimmune diseases.
CUG252 is currently in a Phase 1 study in healthy volunteers.
Cugene will receive an upfront payment of $48.5 million and be eligible to receive development and regulatory milestones and a license option exercise payment if AbbVie exercises the option.
In addition, Cugene may also receive commercialization and sales-based milestones and tiered royalties.
AbbVie will receive an option to obtain an exclusive license for certain IL-2 muteins, including CUG252.
Cugene will conduct a Phase 1b study in patients with autoimmune/inflammatory disease during the option period.
Upon exercising the option, AbbVie will conduct all future clinical development, manufacturing, and commercialization activities for CUG252.
Price Action: ABBV shares are up 1.42% at $155.69 during the market session on the last check Monday.