Tiny Inhibrx signs '$500 million' preclinical antibody outlicensing deal with Celgene
This article was originally published in Scrip
An eight-person biotechnology firm in San Diego called Inhibrx has entered into an option and license agreement with Celgene worth up to $500 million in upfront and milestone payments plus royalties. The deal centres around a preclinical antibody asset, but neither party has disclosed which antibody or its target or the disease it might address.
You may also be interested in...
Private Company Edition: Venture capital for emerging therapeutics companies in the US and in ex-US regions reached all-time highs in 2018. Also, Alphamab raises $60m Series B, three new VC funds launch and FLX changes its name to RAPT.
The GLP-1/GIP agonist tirzepatide is a key addition to Lilly’s commercial portfolio as the company leans on new products to deliver on volume-driven growth through the current decade.
The leader in inflammatory bowel disease via Humira, AbbVie awaits a US FDA decision in June for Skyrizi in Crohn’s disease and plans to add a Crohn’s indication to Rinvoq’s ulcerative colitis approval.