This article is from: srnnews.com
Jan 12 (Reuters) – AbbVie said on Monday it would partner with Chinese drug developer RemeGen to develop an experimental treatment for solid tumors.
The U.S. company said it would gain development, manufacturing and commercial rights to RemeGen’s RC148, which is being developed as a monotherapy across multiple advanced solid tumors.
RemeGen will receive $650 million upfront and is eligible for up to $4.95 billion in aggregate milestone payments, along with tiered, double-digit royalties on net sales outside the Greater China territory.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
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