AbbVie Inc (NYSE: ABBV) and Immunome Inc (NASDAQ: IMNM) announced a worldwide collaboration and option agreement to discover up to 10 novel antibody-target pairs arising from three specified tumor types using Immunome's Discovery Engine.
Immunome will receive an upfront payment of $30 million. It will be eligible to receive additional platform access payments in the aggregate amount of up to $70 million based on AbbVie's election for Immunome to continue research using its Discovery Engine.
Immunome is also eligible to receive development and first commercial sale milestones of up to $120 million per target with respect to certain products derived from target-antibody pairs that AbbVie elects to purchase, with potential for further sales-based milestones as well as tiered royalties on global sales.
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