Under the global licence and collaboration agreement, both firms will advance the French biotech’s OSE-230 to treat chronic and severe inflammation
AbbVie corporate headquarters in Illinois, US. (Credit: AbbVie Inc.)
AbbVie has signed a strategic partnership with France-based OSE Immunotherapeutics to develop a new monoclonal antibody for the treatment of chronic inflammation.
Under the global licence and collaboration agreement, both firms will advance the French biotech’s OSE-230 to treat chronic and severe inflammation.
As per the deal, AbbVie will be granted a worldwide exclusive licence to develop, produce, and market the antibody.
A $48m upfront payment and potential subsequent payments totalling up to $665m in clinical research, regulatory, and commercial milestones will be granted to OSE.
Furthermore, the biotechnology firm will be qualified to obtain tiered royalties based on OSE-230’s global net sales.
AbbVie SVP and discovery research global head Jonathon Sedgwick said: “This collaboration underscores our commitment to expanding our immunology portfolio with the ultimate goal of improving the standard of care for patients living with inflammatory diseases globally.
“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.”
OSE Immunotherapeutics is focused on developing first-in-class assets in immuno-inflammation and immuno-oncology.
The company has three proprietary drug discovery platforms to deliver next-generation first-in-class immunotherapies.
OSE-230 is a first-in-class monoclonal antibody currently in the pre-clinical development stage. It is designed to activate ChemR23, a G-Protein Coupled Receptor (GPCR) target.
AbbVie said that the ChemR23 activation provides a new mechanism to resolve chronic inflammation, modulating functions of both macrophages and neutrophils.
In July last year, the French firm secured a new patent from the US Patent and Trademark Office (USPTO) that protects its therapeutic cancer vaccine Tedopi.
OSE Immunotherapeutics CEO Nicolas Poirier said: “We are very pleased to collaborate with AbbVie, a global leader in the development and commercialisation of innovative medicines, to drive our OSE-230 program forward.
“This partnership represents a major milestone in our company’s progress and recognises 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.”
The deal is subject to the satisfaction of customary closing conditions, including the applicable waiting period.