Under the terms of the expanded agreement, AbCellera led discovery activities, utilizing its proprietary platform to identify and develop potential therapeutic antibodies. AbbVie, in turn, had the exclusive right to further develop and commercialize any resulting therapeutic antibodies from the collaboration. AbCellera received upfront and research payments to support its discovery efforts, with the potential for additional financial rewards.
AbCellera was also eligible to receive milestone payments tied to the successful progress of the project, as well as tiered royalty payments based on the net sales of any resulting products that were commercialized. This financial arrangement allowed AbCellera to benefit from the potential success of the therapeutic antibodies developed through the collaboration, both immediately and in the future.
Carl Hansen, Ph.D., founder and CEO of AbCellera, added:
“We are pleased to broaden our AbbVie collaboration and look forward to using AbCellera’s TCE platform to bring novel cancer immunotherapies to patients in need.”