Partnership to Combine AbbVie's Oncology
Expertise with EvolveImmune's Proprietary EVOLVE T-Cell Engager
Platform to Develop Novel Multispecific Therapeutic Antibodies for
Cancer
NORTH
CHICAGO, Ill. and BRANFORD,
Conn., Oct. 31, 2024 /PRNewswire/ -- AbbVie
(NYSE: ABBV) and EvolveImmune Therapeutics, an immuno-oncology
company developing next-generation biotherapeutics to overcome
the therapeutic challenges of cancer cell resistance to current
immunotherapies, today announced a collaboration and
option-to-license agreement to develop multispecific biologics for
multiple targets in oncology. The discovery partnership will
leverage EvolveImmune's T-cell engager platform to develop novel
antibody-based therapies for solid and hematologic
malignancies.
EvolveImmune's proprietary EVOLVE platform is designed to
deliver potent, selective and integrated T-cell co-stimulation to
amplify and sustain the tumor killing capacity of the T-cells. This
approach aims to bypass low tumor immunogenicity, conditionally
activate adaptive immunity and reduce T-cell dysfunction to
overcome therapeutic challenges in solid and hematologic
tumors.
"AbbVie is dedicated to advancing the understanding of
devastating diseases like cancer and investing in groundbreaking
technologies and therapeutic platforms, to deliver novel treatments
for patients with high unmet needs," said Jonathon Sedgwick, Ph.D., senior vice president
and global head of discovery research, AbbVie. "We are excited to
collaborate with the talented team at EvolveImmune to further
advance their novel T-cell engager platform technology."
"This collaboration with AbbVie, a global leader in oncology,
offers tremendous validation of the EVOLVE platform and the
dedicated and creative work of the EvolveImmune team," said
Stephen Bloch, M.D., chief executive
officer of EvolveImmune. "We believe that EVOLVE, with its
differentiated CD2 co-stimulation strategy, represents a potential
next-generation, best-in-class T-cell engager platform and that our
technology may offer clinically meaningful benefits for
patients."
Under terms of the agreement, EvolveImmune will receive
$65 million in aggregate upfront fees
and equity investment from AbbVie and is eligible for up to
$1.4 billion in aggregate option fees
and milestones, as well as tiered royalty payments on net
sales.
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 AbbVie in Oncology
At AbbVie, we are committed to transforming standards of care
for patients living with difficult-to-treat cancers. We are
advancing a dynamic pipeline of investigational therapies across a
range of cancer types in both blood cancers and solid tumors. We
are focusing on creating targeted medicines that either impede the
reproduction of cancer cells or enable their elimination. We
achieve this through various, targeted treatment modalities and
biology interventions, including small molecule therapeutics,
antibody-drug conjugates (ADCs), immuno-oncology-based
therapeutics, multispecific antibody and in situ CAR-T
platforms. Our dedicated and experienced team joins forces with
innovative partners to accelerate the delivery of potential
breakthrough medicines.
Today, our expansive oncology portfolio comprises approved and
investigational treatments for a wide range of blood and solid
tumors. We are evaluating more than 20 investigational medicines in
multiple clinical trials across some of the world's most widespread
and debilitating cancers. As we work to have a remarkable impact on
people's lives, we are committed to exploring solutions to help
patients obtain access to our cancer medicines. For more
information, please visit http://www.abbvie.com/oncology.
About EvolveImmune Therapeutics
EvolveImmune Therapeutics, Inc. is an immunotherapy platform
company developing first-in-category, multifunctional
biotherapeutics designed to overcome cancer-driven immunodeficiency
in a range of solid tumors and hematological cancers.
First-in-human clinical trials are anticipated in 2025. The company
is supported by a syndicate of top-tier life science industry
investors including Pfizer Ventures, Solasta Ventures, Bristol
Myers Squibb, Takeda Ventures, Inc., Yonjin Ventures and Elm
Street Ventures.
For more information, please visit: www.evolveimmune.com.
Forward-Looking Statement
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