Alpine Immune Sciences (NASDAQ:ALPN) enters into an exclusive global option and license agreement with AbbVie (NYSE:ABBV) for lead candidate ALPN-101.
Under the terms of the deal, Alpine will receive
$60M upfront, up to $805M for the exercise of the option and subsequent
milestones and tiered royalties on net sales. AbbVie will have an option
to exclusively license global rights to ALPN-101.
During the option period, Alpine will conduct a
Phase 2 study in patients with systemic lupus erythematosus. If AbbVie
exercises its option, it will take over future development and will be
responsible for manufacturing and commercialization.
The company says ALPN-101 is a dual CD28/ICOS
costimulation antagonist. CD28 and ICOS are costimulatory molecules that
play key roles in autoimmune and inflammatory disorders. Inhibiting
their action has shown efficacy in preclinical disease models.
Alpine hosts a conference call today to discuss the agreement.
https://seekingalpha.com/news/3584105-alpine-immune-sciences-inks-deal-abbvie-for-lead-drug
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