Abbvie Inc (ABBV)

[DewDiligence]

ABBV, IMAB ink deal to commercialize IMAB’s anti-CD47 mAb globally (excluding Greater China):

https://finance.yahoo.com/news/abbvie-mab-enter-global-strategic-110000707.html

AbbVie and I-Mab announced today that AbbVie and I-Mab have signed a broad, global collaboration agreement for the development and commercialization of lemzoparlimab (also known as TJC4), an innovative anti-CD47 monoclonal antibody internally discovered and developed by I-Mab for the treatment of multiple cancers. In addition, the two partners have the potential to expand the collaboration to additional transformative therapies.

… The collaboration established today provides AbbVie with an exclusive global license, excluding greater China, to develop and commercialize lemzoparlimab. Both companies will collaborate to design and conduct further global clinical trials to evaluate lemzoparlimab in multiple cancers. I-Mab retains all rights to develop and to commercialize lemzoparlimab in mainland China, Macau and Hong Kong. The collaboration also allows for potential collaboration on future CD47-related therapeutic agents. Each party will have the opportunity subject to further licenses to explore each other's related programs in their respective territories.

The companies will share manufacturing responsibilities with AbbVie being the primary manufacturer for global supply. The collaboration will accelerate I-Mab's establishment of commercial production operations in China.

…Under the terms of the agreement, AbbVie will pay I-Mab USD 180 million in an upfront payment to exclusively license lemzoparlimab, along with USD 20 million in a milestone payment based on the phase 1 results, for a total of USD 200 million.

In addition, I-Mab will be eligible to receive up to USD 1.74 billion in success-based milestone payments for lemzoparlimab, of which USD 840 million are based on clinical development and regulatory approval milestones, with the remainder based on commercial milestones. Upon commercialization of lemzoparlimab, AbbVie will also pay tiered royalties from low-to-mid teen percentages on global net sales outside of greater China.