AbbVie, EvolveImmune Therapeutics Announce Option-To-License Agreement; EvolveImmune To Receive $65M In Aggregate Upfront Fees And Equity Investment From AbbVie; AbbVie Eligible For Up To $1.4B In Option Fees, Milestones
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AbbVie and EvolveImmune Therapeutics have announced an option-to-license agreement. EvolveImmune will receive $65 million in upfront fees and equity investment from AbbVie. AbbVie could earn up to $1.4 billion in option fees and milestones.
October 31, 2024 | 12:02 pm
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AbbVie has entered into an option-to-license agreement with EvolveImmune Therapeutics, involving $65 million in upfront fees and potential earnings of up to $1.4 billion in option fees and milestones.
The agreement with EvolveImmune Therapeutics provides AbbVie with a strategic opportunity to expand its portfolio. The upfront payment and potential future earnings indicate a significant investment in growth, likely boosting investor confidence and positively impacting AbbVie's stock price in the short term.
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