AbbVie and Galapagos Sign $405 Million Agreement
After recently signing an anti-inflammatory deal with Ablynx, AbbVie has now announced a new agreement with Galapagos in cystic fibrosis.
Specifically, the organisations have confirmed that they will contribute technologies and resources to develop oral drugs that address the main mutations in cystic fibrosis patients, including F508del and G551D, with the intention of starting Phase I clinical studies towards the end of next year.
As part of the agreement, AbbVie will pay an initial upfront payment of $45 million to Galapagos who are entitled to receive up to $360 million in milestone payments, plus double-digit royalties.
AbbVie will be responsible for commercial activities, whilst Galapagos retaining exclusive rights in China and South Korea and co-promotion rights in Belgium, the Netherlands, and Luxembourg.
AbbVie and Galapagos are already partners, working together on a JAK-1 inhibitor which is currently in Phase IIb for rheumatoid arthritis.