AbbVie Entered into an Exclusive Worldwide Collaboration and Option to License Agreement with HotSpot Therapeutics for IRF5 Program
Shots:
- HotSpot to receive $40M up front & will be eligible to receive ~$295M in option fees, research, development & commercial milestones along with royalties on global net sales
- AbbVie will be responsible to conduct all future clinical development, manufacturing, and commercialization activities for the IRF5 inhibitor program if AbbVie exercises its option while HotSpot gets a one-time option to share global R&D costs in exchange for higher royalty
- The collaboration focuses to develop the first small molecule IRF5 (interferon regulatory factor 5) inhibitor for autoimmune diseases by using HotSpot's Smart Allostery drug discovery platform
Ref: AbbVie | Image: AbbVie
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