AbbVie, EvolveImmune Therapeutics announce collaboration

AbbVie (ABBV) and EvolveImmune Therapeutics announced a collaboration and option-to-license agreement to develop multispecific biologics for multiple targets in oncology. The discovery partnership will leverage EvolveImmune’s T-cell engager platform to develop novel antibody-based therapies for solid and hematologic malignancies. EvolveImmune’s proprietary EVOLVE platform is designed to deliver potent, selective and integrated T-cell co-stimulation to amplify and sustain the tumor killing capacity of the T-cells. This approach aims to bypass low tumor immunogenicity, conditionally activate adaptive immunity and reduce T-cell dysfunction to overcome therapeutic challenges in solid and hematologic tumors. Under terms of the agreement, EvolveImmune will receive $65M in aggregate upfront fees and equity investment from AbbVie and is eligible for up to $1.4B in aggregate option fees and milestones, as well as tiered royalty payments on net sales.