AbbVie Working With Frontier Medicines to Develop Therapeutics
By Michael Dabaie
AbbVie Inc. said it is collaborating with Frontier Medicines
Corp. to develop therapeutics against difficult-to-drug
Under the multi-year collaboration, AbbVie and Frontier will use
Frontier's platform to identify small molecules for programs
directed to novel E3 ligases and some oncology and immunology
AbbVie will pay Frontier $55 million cash upfront, and Frontier
can get additional milestone payments. AbbVie will reimburse
Frontier's R&D costs through defined stages of pre-clinical
When the defined stages of pre-clinical development are
completed, AbbVie will assume responsibility for global development
and commercialization and costs for the programs.
Frontier can share development activities and expenses for some
oncology programs through the completion of Phase 2. Frontier will
be eligible to receive development and commercial milestone
payments that could potentially exceed $1 billion, in addition to
royalty payments on commercialized products.
Write to Michael Dabaie at firstname.lastname@example.org
(END) Dow Jones Newswires
December 02, 2020 08:40 ET (13:40 GMT)
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