AbbVie Inc. on Wednesday said it signed a collaboration and license agreement with privately held Caribou Biosciences Inc. to develop new chimeric antigen receptor, or CAR-T, cell therapies.
The North Chicago, Ill., biopharmaceutical company said it would use Caribou's CRISPR genome-editing and cell-therapy technologies to research and develop two new CAR-T cell therapies directed to targets specified by AbbVie.
AbbVie said Caribou would receive $40 million in an up-front cash payment and equity investment. Caribou would also be eligible for up to $300 million in development, regulatory and launch milestone payments, along with royalties on sales.
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