AbbVie (ABBV) and RemeGen announced an exclusive licensing agreement for the development, manufacturing and commercialization of RC148, a novel investigational Programmed Cell Death-1/Vascular Endothelial Growth Factor -targeted bispecific antibody. RC148 is currently being developed by RemeGen as a monotherapy and in combination regimens across multiple advanced solid tumors. Under the terms of the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialize RC148 outside of the Greater China territory. RemeGen will receive an upfront payment of $650M and is eligible to receive up to $4.95B in aggregate development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales outside the Greater China territory.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABBV:
- West Pharmaceutical to sell SmartDose 3.5mL rights to AbbVie for $112.5M
- AbbVie to acquire Arizona manufacturing facility, IP from West Pharmaceutical
- Tempus AI (TEM) Tops $1.1B in Total Contract Value as Pharma Demand for AI Tools Surges
- The Week That Was, The Week Ahead: Macro and Markets, Jan. 11
- AbbVie’s ABBV-243 Phase 1 Trial: What Early Safety Work Means for Long-Term Investors