Medincell, AbbVie to Co-Develop Injectable Therapeutics
By Ben Glickman
Medincell and AbbVie plan to co-develop and commercialize as many as six injectable therapies under a collaboration deal worth up to nearly $2 billion.
Medincell can rake in as much as $1.9 billion in development and commercial milestones under the deal, or up to $315 million for each of the six programs. Medincell will also get a $35 million upfront payment and is eligible to get mid-single to low-double-digit royalties on sales.
French biopharmaceutical company Medincell said it would oversee formulation activities and pre-clinical trials, while AbbVie will finance and conduct clinical development for each program. AbbVie will be responsible for regulatory approval, manufacturing and commercialization.
The therapies will be made using Medincell's long-acting injectable technology platform.
Medincell received its first U.S. regulatory approval for a product made with its technology in April 2023.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
April 16, 2024 12:26 ET (16:26 GMT)
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