$60M in, AbbVie is triggering a $625M-plus plan to develop a new immuno-oncology drug that is going after GARP
AbbVie $ABBV has decided to jump into clinical development work with a new immuno-oncology drug for its oncology pipeline.
Two years after the company committed $60 million in an upfront and near-term preclinical milestones to its partner argenx (Euronext Brussels: ARGX), researchers are coming back for the commercial rights to a therapy dubbed ARGX-115. And AbbVie — which has finished paying the full $20 million in early goal payments — is down for up to $625 million in milestones if it can make the drug work as hoped.
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