AbbVie Forms Partnerships

AbbVie, the drug company created earlier this year after Abbott Laboratories split into two firms, has formed an alliance with Galapagos to develop therapies for cystic fibrosis. AbbVie also announced a licensing agreement with Ablynx around ALX-0061, an anti-IL-6R antibody fragment that successfully completed Phase IIa clinical trials as a rheumatoid arthritis treatment this year. With Galapagos, AbbVie will work on oral drugs that address the main mutations involved in cystic fibrosis. The goal is to identify compounds that correct defects in the expression of the main mutations in the cystic fibrosis transmembrane regulator protein, including the F508del mutation, which is in 90% of people with the disease. AbbVie will make an up-front payment of $45 million to Galapagos, which is eligible for up to $360 million in milestone payments. The partners will split the cost of Phase III development. In the arthritis drug deal, Ablynx will be responsible for completing Phase II clinical development. AbbVie will pay $175 million up front and have the right to in-license ALX-0061 and take over Phase III development. Ablynx will be eligible to receive milestone payments of up to $665 million.