Abbvie licences FG-M701 from FutureGen Biopharmaceutical (Beijing)Co. Ltd.
AbbVie and FutureGen Biopharmaceutical (Beijing) Co., Ltd. announced a license agreement to develop FG-M701, a next generation TL1A antibody for the treatment of IBD currently in preclinical development
FG-M701 is a fully human monoclonal antibody targeting TL1A, a clinically validated target in IBD. FG-M701 is uniquely engineered with potential best-in-class functional characteristics compared to first-generation TL1A antibodies with the goal to drive greater efficacy and less frequent dosing as a therapy for IBD.Under the terms of the agreement, AbbVie will receive an exclusive global license to develop, manufacture and commercialize FG-M701. FutureGen will receive $150 million in upfront and near-term milestone payments and will be eligible to receive up to an additional $1.56 billion in clinical development, regulatory and commercial milestones, as well as tiered royalties up to low-double digits on net sales
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