AbbVie and Tentarix Announce Collaboration to Develop Conditionally-Active, Multi-Specific Biologics for Oncology and Immunology
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The collaboration between AbbVie and Tentarix Biotherapeutics represents a strategic move to strengthen AbbVie's pipeline in two significant therapeutic areas: oncology and immunology. The financial commitment of $64 million in upfront option payments signifies a sizeable investment into Tentarix's novel platform, which could yield innovative treatments. This partnership could potentially enhance AbbVie's competitive position in the market, especially if the conditionally-active, multi-specific biologics prove to be effective in clinical trials.
From a market perspective, the alliance could signal to investors AbbVie's proactive approach in sourcing external innovation to supplement its internal R&D efforts. Furthermore, the deal structure, which includes an exclusive option for AbbVie to acquire the programs post-candidate nomination, provides a clear path for AbbVie to secure promising assets while mitigating some of the early-stage development risks.
AbbVie's upfront payment of $64 million to Tentarix is a notable outlay that reflects confidence in the potential of the Tentacles™ platform. The financial implications for AbbVie hinge on the successful development and eventual market approval of the biologic candidates. If successful, the acquisition of these programs could lead to significant long-term revenue streams for AbbVie, especially considering the high value of oncology and immunology markets.
Investors should note that while the initial investment is substantial, the undisclosed additional payments for each program upon candidate nomination could represent a further financial commitment. These terms suggest a staged investment strategy, allowing AbbVie to manage its financial exposure while still securing innovative assets.
The exclusive option agreement between AbbVie and Tentarix includes key legal and business considerations. The conditional nature of the agreement allows AbbVie to evaluate the progress and potential of the biologic candidates before committing to full acquisition. This strategy is a common practice in the biotechnology industry, allowing companies to share the risk and benefit from each other's expertise.
For stakeholders, understanding the legal framework of such collaborations is crucial. It defines the scope of control, intellectual property rights and financial obligations. The terms of the agreement, particularly the exclusive option to acquire, will have been carefully structured to protect AbbVie's interests while ensuring fair compensation for Tentarix, should the candidates prove valuable.
- Collaboration to leverage AbbVie's therapeutic area expertise and Tentarix's Tentacles™ platform, to develop novel multifunctional biologics against one target in oncology and another in immunology
- AbbVie will receive an exclusive option to acquire the therapeutic programs following candidate nomination by Tentarix
Tentacles™ are multi-functional, conditionally-active antibody-based biologics that are designed specifically to activate immune cells that can modulate disease pathways, while potentially mitigating safety concerns associated with non-specific targeting of other immune cells.
"Oncology and immunology are two of our key strategic growth areas where we are pursuing novel technologies that aim to deliver transformative therapies, which address unmet patient needs," said Jonathon Sedgwick, Ph.D., senior vice president and global head of discovery research, AbbVie. "This strategic partnership complements our ongoing efforts in developing novel biologics, potentially to expand our oncology and immunology portfolios with conditionally-active multi-specific molecules."
"We are excited to join forces with AbbVie to help accelerate cutting-edge, conditionally-active therapeutic programs towards clinical applications for patients in need," said Don Santel, interim chief executive officer, Tentarix Biotherapeutics. "This collaboration adds to our portfolio of internal and external pipeline programs and is a strong validation of our approach in understanding and targeting complex immune interactions that drive cancers and inflammatory diseases."
Under the terms of the agreements, Tentarix will receive upfront option payments, totaling
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. We strive 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 our 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 Tentarix
Tentarix's mission is to develop first-in-class targeted, multifunctional, conditional therapies across a range of indications of high unmet medical need. Tentarix is focused on modulating cell specific functions while increasing the safety profile for biologics. Tentarix has built a team that aims to transform research and development through understanding complex immune interactions (CellSurf™), discovery of novel human antibodies (HuTARG™), and high-throughput screening of conditional multi-specifics (FunctionSeq™). For more information, please visit www.tentarix.com.
AbbVie 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 and uses of future or conditional verbs, 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 expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. 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 2023 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, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
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SOURCE AbbVie
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