AbbVie And FutureGen Biopharmaceutical Announce License Agreement To Develop FG-M701; Abbvie To Receive Exclusive Global License, FutureGen To Receive $150M Upfront Payment And Up To $1.56B In Milestones
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AbbVie and FutureGen Biopharmaceutical have announced a license agreement to develop FG-M701. AbbVie will receive an exclusive global license, while FutureGen will receive a $150 million upfront payment and up to $1.56 billion in milestone payments.
June 13, 2024 | 12:00 pm
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AbbVie has secured an exclusive global license to develop FG-M701 from FutureGen Biopharmaceutical. This agreement involves a $150 million upfront payment and potential milestone payments up to $1.56 billion.
The exclusive global license for FG-M701 could significantly enhance AbbVie's product pipeline, potentially leading to future revenue growth. The substantial upfront and milestone payments indicate a strong commitment and potential high value of the drug.
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