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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.

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