AbbVie Inc. (NYSE:ABBV) saw its stock jump 3.4% after announcing a major licensing agreement with IGI Therapeutics, securing exclusive global rights to develop and commercialize ISB 2001 — a promising multispecific antibody candidate targeting cancer and autoimmune conditions.
Under the terms of the deal, AbbVie will make an upfront payment of $700 million to IGI Therapeutics, a subsidiary of Ichnos Glenmark Innovation, Inc., based in New York. The agreement also includes up to $1.225 billion in potential milestone payments linked to development, regulatory, and commercial achievements. IGI is further entitled to receive tiered double-digit royalties on future net sales of ISB 2001.
ISB 2001 was developed using IGI’s proprietary BEAT® protein engineering platform and represents a novel trispecific antibody approach in immuno-oncology. AbbVie views the molecule as a potential game-changer in the treatment of multiple myeloma and other conditions where conventional therapies fall short.
“Multispecifics — including trispecific antibodies — are emerging as a transformative class in immuno-oncology, capable of engaging multiple targets to deliver deeper and more durable treatment responses,” said Dr. Roopal Thakkar, Executive Vice President and Chief Scientific Officer at AbbVie.
This strategic partnership strengthens AbbVie’s oncology pipeline and reinforces its investment in next-generation biologics. The transaction is pending regulatory approval before the agreement becomes effective.
The market responded positively to the announcement, reflecting confidence in AbbVie’s R&D strategy and its commitment to expanding its presence in high-growth therapeutic areas.
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