US pharma major AbbVie (NYSE: ABBV) has discontinued a development program using the ENHANZE platform technology and the tumor necrosis factor alpha (TNF-alpha) target following completion of a Phase I study in which the target results were not achieved.
Partner USA-based Halozyme Therapeutics (Nasdaq: HALO) and AbbVie will continue to work collaboratively to identify additional targets for co-development under their 2015 global collaboration and licensing agreement. TNF-alpha was the first nominated target of nine included as part of the agreement. Halozyme’s shares dipped 3.18% to $12.41 in morning trading, while AbbVie was barely changed.
In June 2015, Halozyme entered into a global collaboration and license agreement with AbbVie to develop and commercialize products combining proprietary AbbVie compounds with Halozyme's ENHANZE platform, potentially valued at $1.19 billion.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze