AbbVie and RemeGen Announce Exclusive Licensing Agreement to Develop A Novel Bispecific Antibody for Advanced Solid Tumors

Core Insights - AbbVie and RemeGen have entered into an exclusive licensing agreement for RC148, a novel PD-1/VEGF bispecific antibody aimed at treating advanced solid tumors, including certain lung cancers [1][4] - RC148 represents a new class of cancer therapies that may enhance immune response against tumors by simultaneously blocking PD-1 and VEGF, potentially overcoming tumor resistance [2] - The partnership is expected to strengthen AbbVie's oncology portfolio and explore combination therapies with existing antibody-drug conjugates (ADCs) [3][4] Company Overview - AbbVie is focused on advancing innovative oncology treatments and has a diverse pipeline of investigational therapies targeting various cancer types [5][6] - The company aims to elevate standards of care for patients with difficult-to-treat cancers through targeted medicines and collaborations with innovative partners [6][8] - RemeGen is a leading biopharmaceutical company in China, known for its innovative biologics and has successfully commercialized products in oncology [9][10] Financial Terms - Under the agreement, RemeGen will receive an upfront payment of USD 650 million and could earn up to USD 4.95 billion in milestone payments, along with tiered royalties on net sales outside Greater China [4]