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AbbVie and OSE Immunotherapeutics Forge Partnership to Advance OSE-230 Monoclonal Antibody

AbbVie and OSE Immunotherapeutics Forge Partnership to Advance OSE-230 Monoclonal Antibody

AbbVie Inc. (ABBV) and OSE Immunotherapeutics SA (OSE) have announced a significant strategic partnership aimed at developing OSE-230, a monoclonal antibody targeting chronic and severe inflammation, currently in the pre-clinical development stage.

OSE-230 represents a pioneering approach as a first-in-class monoclonal antibody designed to activate ChemR23, a G-Protein Coupled Receptor (GPCR) target. By activating ChemR23, OSE-230 offers a novel mechanism for resolving chronic inflammation, influencing the functions of macrophages and neutrophils.

Jonathon Sedgwick, Ph.D., senior vice president and global head of discovery research at AbbVie, expressed the company's commitment to expanding its immunology portfolio to enhance patient care for those living with inflammatory diseases worldwide. "By leveraging our expertise in immunology drug development, we look forward to advancing OSE-230, which offers a novel mechanism of action to treat chronic inflammation," added Dr. Sedgwick.

Nicolas Poirier, CEO of OSE Immunotherapeutics, emphasized the significance of the collaboration with AbbVie, a renowned leader in innovative medicine development and commercialization. "This partnership represents a major milestone in our company's progress and recognizes the value of our innovative R&D capabilities. I would like to thank all our employees who helped us reach this milestone through dedication and hard work," Poirier noted. 

As per the terms of the agreement, AbbVie gains an exclusive global license to develop, manufacture, and commercialize OSE-230. OSE Immunotherapeutics will receive a substantial upfront payment of USD 48 million and stands to earn up to an additional USD 665 million in milestone payments related to clinical development, regulatory approvals, and commercialization. Additionally, OSE Immunotherapeutics will be entitled to receive tiered royalties on global net sales of OSE-230.

The transaction is subject to customary closing conditions, including the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

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More news about: global pharma | Published by Manvi | March - 01 - 2024

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