I-Mab regains global rights to lemzoparlimab
China-based immuno-oncology-focussed biotech I-Mab Biopharma (Nasdaq: IMAB) revealed in a Securities and Exchange Commission (SEC) filing that US pharma major AbbVie (NYSE: ABBV) had totally terminated their September 2020 collaboration, relating to certain CD47 antibody compounds and products.
The termination of the potentially $2 billion agreement is entirely by AbbVie, I-Mab stressed, and is based on the previous program discontinuation and AbbVie’s strategic decision. The termination will take effect on November 20, 2023. Last month, AbbVie opted out of part of the pact, but I-Mab still had the potential to earn more than $1 billion.
As a result, I-Mab will regain the full global rights to develop and commercialize certain CD47 compounds and products under the accord, including lemzoparlimab. The termination will not affect the upfront and milestone payments of $200 million that the company has received from AbbVie.
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
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
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
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze