logo
  

AbbVie Signs License Agreement With HotSpot For Use Of IRF5 In Autoimmune Diseases

AbbVie Inc. (ABBV) announced Tuesday an exclusive worldwide collaboration and option to license agreement for HotSpot Therapeutics Inc.'s discovery-stage IRF5 transcription program for the treatment of autoimmune diseases.

The IRF5 acts as a key regulator of certain types of immune responses and its dysregulation are strongly implicated in several poorly treated autoimmune disorders. The collaboration targets patients with serious autoimmune diseases, such as systemic lupus erythematosus.

As per 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 milestones. Further commercial milestones as well as tiered royalties on global net sales would also be considered.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
Follow RTT