WASHINGTON (dpa-AFX) - AbbVie, Inc. (ABBV) and Neomorph, Inc. announced Thursday a collaboration and option-to-license agreement to develop novel molecular glue degraders for multiple targets across oncology and immunology.
The collaboration leverages AbbVie's expertise in oncology and immunology drug development and Neomorph's leading molecular glue discovery platform.
Under terms of the agreement, Neomorph will receive an upfront payment from AbbVie, and is eligible to receive up to $1.64 billion in aggregate option fees and milestones, as well as tiered royalties on net sales.
Molecular glue degraders are a novel class of small molecules that are designed to selectively target and trigger degradation of proteins that drive cancer growth or immune system dysregulation, offering a more precise approach to treatment.
Molecular glue degraders have the potential to target proteins that have historically been defined as 'undruggable'.
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