AbbVie, Alphabet-Backed Calico Pledge Another $1 Billion to Age-Related Partnership
June 26 2018 - 9:10AM
Dow Jones News
By Colin Kellaher
AbbVie Inc. (ABBV) and Calico, a life-science company backed by
Google parent Alphabet Inc. (GOOG), on Tuesday said they will each
invest an additional $500 million to extend their collaboration on
new therapies for patients with age-related diseases, including
neurodegeneration and cancer.
The companies said Calico, led by former Genentech Chairman and
Chief Executive Arthur Levinson, will be responsible for research
and early development until 2022 and will advance collaboration
projects through Phase 2a through 2027.
AbbVie, the North Chicago, Ill., biopharmaceutical company, will
continue to support Calico in its early R&D efforts and,
following completion of Phase 2a studies, will have the option to
manage late-stage development and commercial activities.
The companies said they will share costs and profits
equally.
Google and AbbVie launched the initial $1.5 billion partnership
in 2014.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 26, 2018 08:55 ET (12:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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