Abbott pays Pierre Fabre US$25m upfront in cancer agreement
Abbott has signed an exclusive worldwide licensing agreement with French pharmaceutical company Pierre Fabre to develop and commercialise h224G11, a pre-clinical monoclonal antibody targeting the cMet receptor for the treatment of cancer.
Abbott has signed an exclusive worldwide licensing agreement with French pharmaceutical company Pierre Fabre to develop and commercialise h224G11, a pre-clinical monoclonal antibody targeting the cMet receptor for the treatment of cancer. As part of the agreement, the companies will also collaborate on research to explore next-generation cMet antibodies.
US pharmaceutical company Abbott has agreed to lead the development and commercialisation of monoclonal antibodies targeting the cMet receptor. Pierre Fabre will receive a US$25m upfront payment and research funding to support further discovery efforts for two years. Additional financial terms, including milestones and royalty payments, remain confidential.
"This is a compelling cancer target and the early research on this compound looks promising," said John Leonard, senior vice president, global research and development at Abbott.
"We look forward to adding to our strong oncology pipeline, which includes exploration of multiple mechanisms to treat cancer."
H224G11 works by binding to cMet protein and interrupting the signalling pathway, which leads to cancer cell death and the prevention of tumour growth. The antibody also inhibits cancer cell migration and angiogenesis.
