AbbVie fully ditches I-Mab's CD47 drug after initial 2022 pullback from $1B+ bet
AbbVie will end the last parts of its CD47 agreement with I-Mab, the Maryland and Shanghai biotech disclosed in a Friday SEC filing.
The Chicago-area drugmaker will return the global rights to develop and commercialize certain CD47 antibodies and products that were set up under the original 2020 and amended 2022 tie-ups, I-Mab said.
Last August, AbbVie opted out of part of their pact. But I-Mab could still have gained as much as $1.295 billion in payouts based on where the deal stood at that time. The decision to entirely end the agreement was “based on the previous program discontinuation and AbbVie’s strategic decision,” I-Mab said in the filing.
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