Chinese biotech bets on AbbVie for boost in CD47 race, raises $418 million
Gilead’s $4.9 billion acquisition of immuno-oncology drug developer Forty Seven in April put the industry on notice that anti-CD47 immunotherapies are looking like the next class of promising cancer therapies.
To keep pace, Shanghai-based I-Mab Biopharma started looking for a global partner to help accelerate its own CD47 progam, lemzoparlimab, or TJC4. AbbVie emerged as the ideal partner and the two companies announced a global collaboration deal, potentially worth close to $2 billion.
“The race is on,” Jingwu Zang, I-Mab’s founder and honorary chairman, told STAT. “Who’s gonna win this race really depends on the innovative nature of the molecule.”
Abbvie will pay I-Mab $200 million upfront and potentially another $1.74 billion if the drug reaches certain developmental, regulatory, and commercialization milestones.
In exchange, the North Chicago-based company gets an exclusive global license to develop and commercialize the monoclonal antibody, while I-Mab retains the rights in China. The partners have also agreed to conduct a slew of clinical trials to explore possible combination therapies with assets in their respective pipelines. I-Mab has two, in-house CD47-related bispecific antibodies that AbbVie will have the right of first negotiations to in-license down the line.
Read more.
To keep pace, Shanghai-based I-Mab Biopharma started looking for a global partner to help accelerate its own CD47 progam, lemzoparlimab, or TJC4. AbbVie emerged as the ideal partner and the two companies announced a global collaboration deal, potentially worth close to $2 billion.
“The race is on,” Jingwu Zang, I-Mab’s founder and honorary chairman, told STAT. “Who’s gonna win this race really depends on the innovative nature of the molecule.”
Abbvie will pay I-Mab $200 million upfront and potentially another $1.74 billion if the drug reaches certain developmental, regulatory, and commercialization milestones.
In exchange, the North Chicago-based company gets an exclusive global license to develop and commercialize the monoclonal antibody, while I-Mab retains the rights in China. The partners have also agreed to conduct a slew of clinical trials to explore possible combination therapies with assets in their respective pipelines. I-Mab has two, in-house CD47-related bispecific antibodies that AbbVie will have the right of first negotiations to in-license down the line.
Read more.
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