AbbVie and Neomorph Team Up to Revolutionize Oncology and Immunology with Molecular Glue Degraders
Thursday, Jan 23, 2025 9:13 am ET
3min read AbbVie (NYSE: ABBV) and Neomorph, Inc. have announced a groundbreaking collaboration to develop novel molecular glue degraders for multiple targets across oncology and immunology. This strategic partnership combines AbbVie's expertise in drug development with Neomorph's leading molecular glue discovery platform, aiming to create a more precise approach to treating cancer and immune disorders.
Molecular glue degraders are a novel class of small molecules designed to selectively target and trigger degradation of proteins that drive cancer growth or immune system dysregulation. These innovative compounds have the potential to target proteins previously considered "undruggable," offering a promising avenue for developing new, effective therapies.
"Protein degraders represent a groundbreaking advancement in the field of drug discovery," said Steven Elmore, vice president of small molecule therapeutics and platform technologies at AbbVie. "We are excited to collaborate with Neomorph to develop novel molecular glue degraders, which could pave the way for new, effective therapies in the treatment of immune disorders and cancer."
Phil Chamberlain, DPhil, Co-Founder, President, and Chief Executive Officer of Neomorph, expressed enthusiasm about the partnership: "At Neomorph, we have spent years building a unique molecular glue platform with broad coverage of the proteome. We are thrilled to partner with AbbVie, a global leader in delivering transformative medicines in oncology and immunology, as we aim to tackle some of the most challenging and valuable targets known."
Under the terms of the agreement, Neomorph will receive an upfront payment from AbbVie, as well as up to $1.64 billion in aggregate option fees and milestones, and tiered royalties on net sales. This risk-sharing structure aligns the interests of both companies and mitigates the financial risks associated with early-stage drug development.
The collaboration between AbbVie and Neomorph addresses several key challenges in developing molecular glue degraders, including targeting undruggable proteins, selectivity and specificity, efficacy and potency, and delivery and bioavailability. By leveraging AbbVie's expertise in drug development and Neomorph's molecular glue discovery platform, the partnership aims to accelerate the development of novel molecular glue degraders and increase the likelihood of success.
In conclusion, the collaboration between AbbVie and Neomorph represents a significant step forward in the development of molecular glue degraders for oncology and immunology targets. By combining their respective strengths in drug development and molecular glue discovery, the partnership aims to create a more precise approach to treating cancer and immune disorders. The financial structure of the agreement balances risk and reward for both companies, aligning their interests and mitigating the risks associated with early-stage drug development. As the collaboration progresses, investors will closely monitor the development of these novel therapies and their potential impact on AbbVie's financial performance.
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