ABBV AbbVie Inc

By Matt Grossman

AbbVie Inc. and Regenxbio Inc. will collaborate on bringing to market a new drug for wet age-related macular degeneration, an eye disease, the companies said Monday.

Regenxbio, based in Rockville, Md., has been developing the drug, a one-time gene therapy called RGX-314. Under the terms of the partnership, AbbVie will collaborate and share in the costs of future trials of the drug, and lead global clinical development. Regenxbio will participate in U.S. commercialization.

AbbVie will pay Regenxbio $370 million up front, with the potential for Regenxbio to get up to $1.38 billion as the partnership unfolds. The two companies will equally split U.S. profits from the drug. AbbVie will pay Regenxbio royalties on foreign sales.

Regenxbio will lead U.S. manufacturing, while AbbVie will take the lead on foreign manufacturing.

A pivotal trial testing subretinal delivery of the drug is now underway, the companies said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

September 13, 2021 06:56 ET (10:56 GMT)

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