AbbVie announced that it has signed an exclusive global collaboration agreement with I-Mab to develop and sell the Chinese biotech company’s lemzoparlimab drug candidate for the treatment of multiple cancers.Under the terms of the agreement, AbbVie (ABBV) will pay I-Mab $180 million in an upfront payment to exclusively license lemzoparlimab, also known as TJC4, along with $20 million in a milestone payment based on the Phase 1 results, for a total of $200 million. I-Mab will be eligible to receive up to $1.74 billion in success-based milestone payments for lemzoparlimab, of which $840 million are based on clinical development and …read more
Source:: Yahoo Finance
