AbbVie and Scripps Research announce collaboration to develop a broad range of new therapeutics

Date : 12/09/2019 @ 1:00PM
Source : PR Newswire (US)
Stock : AbbVie Inc (ABBV)
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AbbVie and Scripps Research announce collaboration to develop a broad range of new therapeutics

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NORTH CHICAGO, Ill. and LA JOLLA, Calif., Dec. 9, 2019 /PRNewswire/ -- AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company and Scripps Research, an international leader in non-profit biomedical research and drug discovery, today announced a collaboration to develop new therapies for a range of diseases, including in the therapeutic areas of oncology, immunology, neurology and fibrosis.

"Based on our strong switchable CAR-T alliance launched in 2018, we feel the expanded relationship with AbbVie represents a robust path forward for some of our programs, complementing a diverse ecosystem of innovation we've created over the past several years at Scripps to advance life-changing therapies," says Peter Schultz, Ph.D., chief executive officer, Scripps Research and Calibr, its drug discovery division.

In addition to programs initially named in the collaboration from preclinical to IND stages of development, Scripps Research will present to AbbVie a certain number of preclinical programs of mutual interest per year for consideration to be included in the collaboration. Scripps and AbbVie will also work together in parallel to advance CD3 bispecifics against oncology targets nominated by AbbVie.

Under the terms of the license agreement, Scripps Research will continue to conduct pre-clinical research and development activities and, in some cases, Phase 1 clinical trials with AbbVie having an exclusive option to further develop and commercialize.

Upon AbbVie's decision to exercise its option to a given program, Scripps Research is eligible to receive additional payments from AbbVie, including option exercise fees, success-based development and commercial milestone payments, as well as tiered royalties. AbbVie will make an undisclosed upfront payment, as well as a near-term milestone payment upon achievement of certain success criteria.

"The best way to develop transformational medicines is through collaborations that bring together the brightest minds," says Mohit Trikha, Ph.D., vice president and head of oncology early development, AbbVie. "This partnership with Scripps Research will collaboratively advance next generation programs, build stronger relationships with proven and emerging scientific leaders, and most importantly help us advance novel medicines for patients. We are eager to partner with Scripps on these assets as they enter the clinic over the next few years as Scripps has one of the strongest track records of any academic institution when it comes to advancing novel medicines for patients."

About AbbVie

AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world's most complex and critical conditions. The company's mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, LinkedIn or Instagram.

About Scripps Research

Scripps Research, with campuses in California and Florida, ranks as the most influential scientific organization in the world, unparalleled in propelling innovation in science and medicine. Our unique structure merges foundational studies in biology, chemistry and computer science with translational science to produce the next generation of drugs and advances in digital and precision medicine. Scientists in the institute's five academic research departments work hand-in-hand with researchers of the Scripps Research Translational Institute and Calibr. Together, we cultivate the next generation of scientific leaders and expand the frontiers of knowledge to drive innovation that improves lives around the planet.

For more information about Calibr and Scripps Research visit www.calibr.org and www.scripps.edu. Follow @ScrippsResearch on Twitter, Facebook or LinkedIn.

Cision View original content:http://www.prnewswire.com/news-releases/abbvie-and-scripps-research-announce-collaboration-to-develop-a-broad-range-of-new-therapeutics-300971084.html

SOURCE AbbVie

Copyright 2019 PR Newswire

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