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AbbVie teams up with I-Mab in cancer

September 4, 2020

AbbVie (NYSE:ABBV) will collaborate with I-Mab (NASDAQ:IMAB) to develop and commercialize the latter’s lemzoparlimab, an anti-CD47 monoclonal antibody, for the treatment of a range of cancers.

Under the terms of the partnership, AbbVie will have an exclusive global license, excluding Greater China, while I-Mab retains all rights in mainland China, Macau and Hong Kong. The agreement allows for potential collaboration on future CD47-related therapeutics. Each company will have the opportunity, subject to further licenses, to explore each other’s related programs in their respective territories.

AbbVie will pay I-Mab $180M upfront plus a $20M milestone payment based on positive results from recently completed Phase 1 study, up to $840M in future clinical and development milestones, up to $900M in commercial milestones and tiered low-to-mid-teen royalties on net sales.

CD47 is a protein found on the surface of a range of cancer cells that enable them to avoid attack from immune system cells called macrophages. Blocking the protein enables the immune cells to engulf and kill the cancer cells.

https://seekingalpha.com/news/3611693-abbvie-teams-up-i-mab-in-cancer

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