AbbVie, Sosei ink drug discovery deal worth USD 1 billion
The partnership will initially focus on the discovery of novel small molecules, targeting inflammatory and autoimmune diseases, the companies said in a news release.
Japan: Japan's Sosei Group Corp will collaborate with AbbVie Inc on a drug discovery partnership that could be worth up to $1 billion.
Sosei shares soared 12.4 per cent in Tokyo trading, compared with a 1.2 per cent slide in the broader market.
The partnership will initially focus on the discovery of novel small molecules, targeting inflammatory and autoimmune diseases, the companies said in a news release.
Sosei is eligible to receive up to $32 million in upfront and near-term milestone payments, along with future commercial milestones of up to $377 million, plus tiered royalties on sales.
The companies will work to discover and commercialise medicines that modulate G protein-coupled receptor (GPCR) targets.
Chicago-based AbbVie has the option to expand the collaboration to a total of four targets.
An expansion to four targets would put the total deal size "in a similar ballpark" to deals signed in 2019 with Genentech Inc and Takeda Pharmaceutical Co, a Sosei spokesman said.
The Genentech deal is worth up to $1 billion, while the Takeda partnership could total $1.2 billion.
Read also: DoP, Minister review development of bulk drug, medical device parks to reduce dependency on imports
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.