Genmab Lands Experienced Partner AbbVie In Broad Bispecific Antibody Collaboration
AbbVie will pay $750m up front plus up to $3.15bn in milestone fees to jointly develop and commercialize three bispecific antibody candidates for cancer and an earlier drug discovery collaboration.
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In another clear signal that China's innovative drug R&D is coming of age, most global rights to I-Mab's promising early-stage CD47 antibody have been picked up by AbbVie in a deal valued at close to $2bn.
During Q2 biopharmas reached $5.9bn in merger and acquisition value and drew in $44bn in potential deal value from alliances. Device company M&A values reached $159m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.4bn.