AbbVie, Sosei Build In 2020 Pact With New Neurological Disease-Focused Agreement

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.