AbbVie scoops up option to license Harpoon's BCMA drug for $50M upfront as biotech partner preps PhI/II trial
AbbVie is arming itself with another set of bow and arrows to shoot at BCMA in multiple myeloma — and this time it has turned to collaborators at Harpoon Therapeutics.
In paying $50 million for an option to license HPN217, AbbVie gains exclusive access to a Tri-specific T cell Activating Construct, or TriTAC, that is being steered to a Phase I/II trial. The dosing of the first patient will call for another $50 million in contingent milestone payment. Once Harpoon comes up with the data, its pharma giant partner will decide whether to officially add it to the arsenal.
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