Infinity's horizons broaden with rich AbbVie co-development deal
This article was originally published in Scrip
Infinity Pharmaceuticals will expand its capacity for single-agent and combination therapy oncology studies for duvelisib (IPI-145), and improve its ability to pay future milestone and royalty fees under prior agreements, through an $805m partnership with AbbVie.
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Infinity's hopes for accelerated approval of duvelisib based on the DYNAMO study have been dashed, so as the company plots a new strategy for the PI3K inhibitor – with or without its partner AbbVie – it has cut discovery research operations, including 46 jobs.
Bristol Myers Squibb brought the last of nine new drugs to market last year – all needed to help it overcome three big losses of exclusivity this decade – so the focus this year is commercial execution.
Executives told Scrip the company is ready to move five programs into Phase III and launch five products this year, including an obesity indication for Mounjaro, but one drug has since received a CRL.