Shots:
- Kestrel has entered into a strategic agreement with AbbVie, structured as a warrant deal, granting AbbVie an exclusive option to acquire Kestrel upon achievement of key development milestones
- As per the deal, AbbVie will fund development of KST-6051, with an exclusive option to acquire Kestrel based on development & regulatory milestone completion, representing the total deal value of ~$1.45B, incl. upfront, milestones, & potential acquisition payments
- Separately, Kestrel also dosed the first patient in its P-I trial of KST-6051, a pan-KRAS inhibitor for advanced solid tumors, marking the clinical entry of its lead oncology program
Ref: Globenewswire | Image: Kestrel & AbbVie | Press Release
Related News: Haisco Partners with AbbVie to Develop Novel Medicines for Pain in a ~$745M Deal
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