Jonathan Montagu, HotSpot Therapeutics CEO

Ab­b­Vie puts up $40M to li­cense a treat­ment from HotSpot Ther­a­peu­tics

HotSpot Ther­a­peu­tics has man­aged to gain some steam fi­nan­cial­ly in the past few years, as the com­pa­ny wran­gled sev­er­al mul­ti-mil­lion dol­lar rais­es. But its lat­est deal not on­ly puts more cash in­to its pock­ets, it al­so con­nects with a ma­jor name in phar­ma.

On Tues­day, Ab­b­Vie and HotSpot an­nounced they have en­tered an “ex­clu­sive” glob­al col­lab­o­ra­tion, with the op­tion to li­cense HotSpot’s IRF5 pro­gram, which is de­signed to treat au­toim­mune dis­eases. The deal will see Ab­b­Vie hand HotSpot $40 mil­lion up­front, with the biotech el­i­gi­ble to re­ceive $295 mil­lion in “op­tion fees” and R&D mile­stones.

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