AbbVie Teams Up FutureGen to Advance Next-Generation Therapy to Address Inflammatory Bowel Disease
Shots:
- AbbVie & FutureGen Biopharmaceutical have entered into a license agreement to advance FG-M701, under ongoing non-clinical development, for the treatment of inflammatory bowel disease
- As per the agreement, AbbVie gains an exclusive worldwide rights for the development, manufacturing & commercialization of FG-M701 while FutureGen will obtain $150M as upfront & near-term milestones; another $1.56B as clinical development, regulatory & commercial milestones plus up to low-double digits tiered royalties
- FG-M701 is a next-gen. human mAb antibody that targets TL1A and is designed to increase the effectiveness and reduce the dose frequency as compared to first-gen. therapies for IBD
Ref: AbbVie | Image: AbbVie
Related News:- AbbVie Reports the P-II (PICCOLO) Study Data of Elahere (Mirvetuximab Soravtansine) for Treating Ovarian Cancer
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
Click here to read the full press release
Tags
Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
