AbbVie (ABBV) and Immunome Inc. (IMNM) have collaborated to discover up to 10 novel antibody-target pairs arising from three specified tumor types using Immunome's Discovery Engine, the companies said in a statement.
As per the terms of the deal, Immunome will grant AbbVie the option to purchase worldwide rights for up to 10 novel target-antibody pairs arising from the selected tumors. Immunome will receive an upfront payment of $30 million and will be eligible to receive additional platform access payments in the aggregate amount of up to $70 million based on AbbVie's election for Immunome to continue research using its Discovery Engine.
Immunome is also eligible to receive development and first commercial sale milestones of up to $120 million per target with respect to certain products derived from target-antibody pairs that AbbVie elects to purchase, with potential for further sales-based milestones as well as tiered royalties on global sales.
For More Such Health News, visit rttnews.com
For comments and feedback contact: editorial@rttnews.com
Business News