WASHINGTON (dpa-AFX) - AbbVie (ABBV) and EvolveImmune Therapeutics announced a collaboration and option-to-license agreement to develop multispecific biologics for multiple targets in oncology. The partnership will leverage EvolveImmune's T-cell engager platform to develop antibody-based therapies for solid and hematologic malignancies. 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.
EvolveImmune's 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.
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