Anima Biotech strikes another Big Pharm deal

Privately-held USA-based small-molecule mRNA translation specialist Anima Biotech has entered into other major collaboration, this time with US pharma major AbbVie (NYSE: ABBV), which is potentially worth more than $580 million and is aimed at discovering and developing drugs that modulate mRNA biology for three targets in cancer or immune disorders.

“This collaboration will give AbbVie access to Anima’s leading technology platform and deep expertise in mRNA biology and will help further strengthen AbbVie’s world class capabilities in discovering and developing drugs to make a difference in patient’s lives,” said Jonathon Sedgwick, vice president and global head of discovery research, AbbVie, adding: “Modulating mRNA biology with small molecules is a new approach and has the potential to address ‘undruggable’ targets with implications across multiple therapy areas.”

Under the terms of the agreement, Anima will receive an initial $42 million up front and may be eligible for up to $540 million later on in option fees and R&D milestones.