- Collaboration leverages HotSpot's Smart Allostery™ drug
discovery platform for the development of the first and only small
molecule IRF5 (interferon regulatory factor 5) inhibitor for the
potential treatment of autoimmune diseases
- HotSpot to receive an upfront cash payment of $40 million with potential for further milestones
and royalties
NORTH
CHICAGO, Ill. and BOSTON, Dec. 6, 2022
/PRNewswire/ -- AbbVie (NYSE: ABBV) and HotSpot Therapeutics, Inc.,
a biotechnology company pioneering the discovery and development of
small molecule allosteric therapies for the treatment of cancer and
autoimmune diseases, today announced an exclusive worldwide
collaboration and option to license agreement for HotSpot's
discovery-stage IRF5 program for the treatment of autoimmune
diseases.
"This collaboration with HotSpot has the potential to deliver an
entirely new target class of modulators to patients with serious
autoimmune diseases, such as systemic lupus erythematosus, and will
help to further strengthen our robust immunology pipeline," said
Jonathon Sedgwick, Ph.D., vice
president and global head of discovery research, AbbVie.
"HotSpot's drug discovery platform has been able to identify
molecules that bind to IRF5 in a predictable, reproducible manner
potentially enabling effective drugging of what has been considered
an undruggable target."
IRF5 is a transcription factor that acts as a key regulator of
certain types of immune responses, and its dysregulation is
strongly implicated in several poorly treated autoimmune disorders.
Efforts to modulate IRF5 using conventional small molecule
approaches have been unsuccessful because IRF5 lacks a traditional
active site. Leveraging its proprietary Smart Allostery™ platform,
HotSpot discovered what it believes to be the first and only
disclosed small molecule IRF5 inhibitor that targets a previously
unknown allosteric pocket on the protein that is critical for its
endogenous regulation - a "natural hotspot".
"Today's agreement with AbbVie underscores our significant
progress in rapidly building a substantial pipeline of novel
allosteric small molecule therapeutic candidates for the treatment
of autoimmune diseases and cancer," said Jonathan Montagu, Co-Founder and Chief Executive
Officer of HotSpot Therapeutics. "We look forward to collaborating
with AbbVie, an industry leader in developing and commercializing
important immunology therapeutics."
Under the terms of the agreement, HotSpot will receive an
upfront cash payment of $40 million
and may be eligible to receive up to $295
million in option fees and research and development
milestones, with potential for further commercial milestones as
well as tiered royalties on global net sales. Should AbbVie
exercise its option to license, AbbVie will conduct all future
clinical development, manufacturing and commercialization
activities for the IRF5 inhibitor program. In addition,
HotSpot would have a one-time option to share in global R&D
costs in exchange for increased royalty payments. Aquilo Partners,
L.P. acted as financial advisor to HotSpot on this transaction.
About AbbVie
AbbVie's mission is to discover and
deliver innovative medicines that solve serious health issues today
and address the medical challenges of tomorrow. We strive to have a
remarkable impact on people's lives across several key therapeutic
areas: immunology, oncology, neuroscience, eye care, virology and
gastroenterology, in addition to products and services across its
Allergan Aesthetics portfolio. For more information about AbbVie,
please visit us at www.abbvie.com. Follow @abbvie on Twitter,
Facebook, Instagram, YouTube and LinkedIn.
About HotSpot Therapeutics, Inc.
HotSpot Therapeutics,
Inc. is pioneering a new class of allosteric drugs that target
certain naturally occurring pockets on proteins called "natural
hotspots." These pockets are decisive in controlling a protein's
cellular function and have significant potential for new drug
discovery by enabling the systematic design of potent and selective
small molecules with novel pharmacology. The company's proprietary
Smart Allostery™ platform combines computational approaches and
AI-driven data mining of large and diverse data sets to uncover
hotspots with tailored pharmacology toolkits and bespoke chemistry
to drive the rapid discovery of novel hotspot-targeted small
molecules. Leveraging this approach, HotSpot is building a broad
pipeline of novel allosteric therapies for the treatment of cancer
and autoimmune diseases. To learn more,
visit www.hotspotthera.com.
Forward-Looking Statements
Some statements in this
news release are, or may be considered, forward-looking statements
for purposes of the Private Securities Litigation Reform Act of
1995. The words "believe," "expect," "anticipate," "project" and
similar expressions, among others, generally identify
forward-looking statements. AbbVie cautions that these
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
indicated in the forward-looking statements. Such risks and
uncertainties include, but are not limited to, failure to realize
the expected benefits from AbbVie's acquisition of Allergan plc
("Allergan"), failure to promptly and effectively integrate
Allergan's businesses, competition from other products, challenges
to intellectual property, difficulties inherent in the research and
development process, adverse litigation or government action,
changes to laws and regulations applicable to our industry and the
impact of public health outbreaks, epidemics or pandemics, such as
COVID-19. Additional information about the economic, competitive,
governmental, technological and other factors that may affect
AbbVie's operations is set forth in Item 1A, "Risk Factors," of
AbbVie's 2021 Annual Report on Form 10-K, which has been filed with
the Securities and Exchange Commission, as updated by its
subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no
obligation to release publicly any revisions to forward-looking
statements as a result of subsequent events or developments, except
as required by law.
View original
content:https://www.prnewswire.com/news-releases/abbvie-launches-strategic-collaboration-with-hotspot-therapeutics-to-further-expand-immunology-pipeline-301694921.html
SOURCE AbbVie