- Collaboration leverages AbbVie's expertise in oncology
and immunology drug development and Neomorph's leading molecular
glue discovery platform
- Neomorph to receive an upfront payment and is eligible to
receive future option fees and milestones of up to $1.64B
NORTH
CHICAGO, Ill. and SAN
DIEGO, Jan. 23, 2025 /PRNewswire/ -- AbbVie
(NYSE: ABBV) and Neomorph, Inc. today announced a
collaboration and option-to-license agreement to develop novel
molecular glue degraders for multiple targets across oncology and
immunology.
Molecular glue degraders are a novel class of small molecules
that are designed to selectively target and trigger degradation of
proteins that drive cancer growth or immune system dysregulation,
offering a more precise approach to treatment. Molecular glue
degraders have the potential to target proteins that have
historically been defined as "undruggable".
"Protein degraders represent a groundbreaking advancement in the
field of drug discovery and at AbbVie we are committed to advancing
this technology forward," said Steven
Elmore, vice president, small molecule therapeutics and
platform technologies at AbbVie. "We are excited to collaborate
with Neomorph to develop novel molecular glue degraders which could
pave the way for new, effective therapies in the treatment of
immune disorders and cancer."
"At Neomorph, we have spent years building a unique molecular
glue platform with broad coverage of the proteome," said
Phil Chamberlain, DPhil, Co-Founder,
President, and Chief Executive Officer of Neomorph. "We are
thrilled to partner with AbbVie, a global leader in delivering
transformative medicines in oncology and immunology, as we aim to
tackle some of the most challenging and valuable targets
known."
Under terms of the agreement, Neomorph will receive an upfront
payment from AbbVie, and is eligible to receive up to $1.64 billion in aggregate option fees and
milestones, as well as tiered royalties on net sales.
About AbbVie
AbbVie's mission is to discover and
deliver innovative medicines and solutions that solve serious
health issues today and address the medical challenges of tomorrow.
AbbVie strives to have a remarkable impact on people's lives across
several key therapeutic areas – immunology, oncology, neuroscience,
and eye care – and products and services in AbbVie's Allergan
Aesthetics portfolio. For more information about AbbVie, please
visit us at www.abbvie.com. Follow @abbvie
on LinkedIn, Facebook, Instagram, X (formerly
Twitter), and YouTube.
About Neomorph
Neomorph is a biotechnology company
solving critical problems in human health through the discovery and
development of innovative new medicines against 'undruggable'
targets. Neomorph was founded in 2020 and is venture-backed by
Deerfield Management Company.
Neomorph's team is comprised of industry-leading experts in
protein degradation and molecular glues who have a track record of
groundbreaking discoveries in the field. The team at Neomorph is
committed to leadership in advancing the science and technology of
molecular glue drug discovery, while prosecuting a pipeline of
projects through clinical development.
Neomorph is headquartered in San
Diego, California. For more information,
visit www.neomorph.com and follow us
on LinkedIn.
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SOURCE AbbVie