Dragonfly to receive payment for the first Opt-In from AbbVie
as part of a multi-target collaboration launched just over 1
year ago.
WALTHAM, Mass., Jan. 12, 2021 /CNW/ -- Dragonfly
Therapeutics ("Dragonfly"), a biotechnology company developing
novel immunotherapies that harness the innate immune system to
treat disease, today announced that AbbVie (NYSE: ABBV), has
licensed its first TriNKET™ drug candidate from Dragonfly, part of
a multi-target collaboration initiated in November 2019 designed to advance a number of
Dragonfly's novel NK cell engager-based immunotherapies for
autoimmune and oncology indications.
"AbbVie is committed to delivering improved treatment options to
our patients" said Tom Hudson, M.D.
Senior Vice President, R&D and Chief Scientific Officer at
AbbVie. "The collaboration with Dragonfly has been
remarkable. Working together, the teams have made rapid progress to
develop this first TriNKET in record time."
"AbbVie is a global leader in treating immune-mediated diseases"
said Bill Haney, co-founder and
chief executive officer of Dragonfly, "they are a terrific partner
and this opt-in, so soon after launching our collaboration, is a
great vote of confidence. We look forward to continued success and
rapid progress with the AbbVie team to advance new treatment
options for patients."
The opt-in grants AbbVie exclusive worldwide intellectual
property rights to develop and commercialize products directed to
this first specific target, developed using Dragonfly's TriNKET™
technology platform. Dragonfly will receive an opt-in payment, as
well as potential future development milestone payments and
royalties from the sales of any commercialized candidates.
About Dragonfly
Dragonfly Therapeutics is a
clinical-stage biopharmaceutical company committed to discovering,
developing and commercializing therapies that use its novel
TriNKET™ technology to harness the body's innate immune system to
bring breakthrough cancer treatments to patients.
For more information visit:
www.dragonflytx.com
https://www.linkedin.com/company/dragonfly-therapeutics-inc
https://twitter.com/dragonflytx
DRAGONFLY MEDIA CONTACT:
Anne Deconinck |
anne@dragonflytx.com
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SOURCE Dragonfly Therapeutics, Inc.