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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| AbbVie Inc | NYSE:ABBV | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 2.98 | 1.85% | 163.79 | 164.25 | 160.74 | 161.85 | 5,850,104 | 01:00:00 |
From Nov 2023 to May 2024
By Colin Kellaher
AbbVie has struck a pair of exclusive option and license agreements with clinical-stage biotechnology company Umoja Biopharma aimed at developing new chimeric antigen receptor T-cell, or CAR-T, cancer therapy candidates.
AbbVie on Thursday said the companies plan to develop multiple in-situ generated CAR-T cell therapy candidates using Umoja's proprietary VivoVec platform.
AbbVie said it made upfront payments and an equity investment in Umoja, which is eligible to receive up to $1.44 billion for option exercise fees, development and regulatory milestones, along with additional sales-based milestones and royalties on sales.
AbbVie said it has an exclusive option to license Umoja's CD19 directed in-situ generated CAR-T cell therapy candidates, including Umoja's lead clinical program for hematologic malignancies, which is currently at the IND-enabling phase.
The companies also plan to develop up to four additional candidates for discovery targets selected by AbbVie, based in North Chicago, Ill.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 04, 2024 09:14 ET (14:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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