Jazz Pharma, AbCellera ink antibody deal worth up to $876 million

AbCellera Biologics

Wed 12:42

June 17 (Reuters) - Jazz Pharmaceuticals JAZZ.O has signed a research collaboration and licensing agreement with Canada's AbCellera ABCL.O to develop T-cell engaging multispecific antibodies for cancer, the companies said on Wednesday.
AbCellera will receive $56 million upfront for two initial programs expected to begin within 12 months, with an additional $28 million tied to the start of a third program. It is also eligible for up to $792 million per program in option fees and milestone payments if Jazz opts to advance candidates, along with tiered royalties on future sales.

Here are some details: 
The partnership will focus on therapies targeting gastrointestinal cancers and other solid tumors, a move Jazz said aligns with its strategy to expand its oncology portfolio alongside its rare disease business.
AbCellera will lead early-stage discovery work using its antibody development platform, while Jazz will have exclusive global rights to develop and commercialize any resulting therapies once it exercises its options.
The companies may also expand the collaboration to include up to two additional programs. 
AbCellera could further support later-stage development, including investigational new drug-enabling studies and manufacturing clinical supply.
T-cell engaging antibodies are designed to harness the immune system by directing T-cells to attack cancer cells, an approach increasingly explored for hard-to-treat tumors.

 (Reporting by Siddhi Mahatole in Bengaluru; Editing by Maju Samuel)
 ((siddhi.mahatole@thomsonreuters.com;))