AbbVie (ABBV) and Remegen announce exclusive licensing agreement to develop a novel bispecific antibody for advanced solid tumours

• 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.

AbbVie's exclusive licensing agreement with RemeGen marks a significant strategic move in the biotech space, equipping AbbVie with rights to a potentially lucrative bispecific antibody. The substantial upfront payment and future milestone structures suggest strong confidence in the drug's market potential, likely positioning AbbVie favorably against peers in the advanced solid tumors treatment arena. This deal could bolster AbbVie's growth trajectory, reflecting positively on its stock and related biotech equities.