AbbVie and FutureGen announce license agreement for IBD therapy
Betsy Goodfellow | June 14, 2024 | News story | Research and Development | FutureGen, Gastrointestinal tract, ibd, inflammatory bowel disease
AbbVie and FutureGen Biopharmaceutical have announced a license agreement for the development of FG-M701, a next-generation TL1A antibody for the treatment of inflammatory bowel disease (IBD), which is currently in preclinical development.
The drug is a ‘fully human monoclonal antibody targeting TL1A, a clinically validated target in IBD’, according to the press release. It is hoped that the drug will drive greater efficacy and less frequent dosing in its treatment of IBD.
Under the terms of this agreement, AbbVie has an exclusive global license to develop, manufacture and commercialise the compound, with FutureGen receiving a payment of $150m, comprising an upfront payment and near-term milestone payments. The company is also eligible to receive up to $1.56bn in clinical development, regulatory and commercial milestones, as well as tiered royalties on net sales.
Jonathon Sedgwick PhD, senior vice president and global head of discovery research at AbbVie, commented: “The prevalence of IBD continues to increase, and many people living with ulcerative colitis and Crohn’s disease do not respond to current therapies. AbbVie’s mission to raise the standard of care includes the pursuit of transformative therapies that help more patients living with autoimmune diseases achieve remission. We look forward to our collaboration with FutureGen in advancing development of FG-M701 for the treatment of IBD.”
Betsy Goodfellow
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