- Sosei Group Corporation and AbbVie Inc ABBV announced a new drug discovery collaboration and option-to-license agreement to discover, develop and commercialize small molecules that modulate G protein-coupled receptor targets associated with neurological disease.
- The new agreement will leverage Sosei Heptares' StaR technology & structure-based drug design platform.
- The agreement expands the ongoing collaboration between Sosei Heptares and AbbVie, building on the first agreement signed in June 2020, which focused on inflammatory and autoimmune diseases.
- Under the terms of the new agreement, Sosei Heptares will conduct and fund R&D activities through the completion of Investigational New Drug-enabling studies.
- AbbVie has the exclusive option to license up to three programs and will be responsible for clinical, regulatory, and commercial development.
- Sosei Heptares receives an upfront payment of $40 million and is eligible to receive up to $40 million in near-term research milestone payments expected over the next three years.
- AbbVie will also pay milestone payments of up to $1.2 billion, plus tiered sales-based royalties.
- Price Action: ABBV shares closed at $140.22 on Monday.
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