AbbVie inks up to $1.4 billion deal with EvolveImmune

This morning, pharma major AbbVie (NYSE: ABBV) and fellow USA-based EvolveImmune Therapeutics announced the signing of a collaboration and option-to-licence agreement that will leverage EvolveImmune's proprietary EVOLVE T-cell engager platform to develop novel, multispecific therapeutic antibodies for cancer.

AbbVie noted that EvolveImmune’s proprietary EVOLVE platform is designed to deliver potent, selective and integrated T-cell co-stimulation to amplify and sustain the tumor killing capacity of the T-cells. This approach aims to bypass low tumor immunogenicity, conditionally activate adaptive immunity and reduce T-cell dysfunction to overcome therapeutic challenges in solid and hematologic tumors.

The deal terms provide for EvolveImmune to receive $65 million in aggregate upfront fees and equity investment from AbbVie and become eligible for up to $1.4 billion in aggregate option fees and milestones, as well as tiered royalty payments on net sales.