AbbVie (ABBV) and Remegen announce exclusive licensing agreement to develop a novel bispecific antibody for advanced solid tumours
Importance
Level 1
- Under the terms of the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialize RC148 outside of the Greater China territory.
- RemeGen will receive an upfront payment of USD USD 650mln and is eligible to receive up to USD 4.95bln in aggregate development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales outside the Greater China territory.
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