AbbVie (ABBV) and FutureGen Biopharmaceutical Beijing Co. announced a license agreement to develop FG-M701, a next generation TL1A antibody for the treatment of IBD currently in preclinical development. AbbVie will receive an exclusive global license to develop, manufacture and commercialize FG-M701. FutureGen will receive $150 million in upfront and near-term milestone payments and will be eligible to receive up to an additional $1.56 billion in milestones, as well as tiered royalties up to low-double digits on net sales.
FutureGen Biopharmaceutical is a biopharmaceutical company committed to providing biologics for patients with cancer, immune diseases and other diseases.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.