Medincell and AbbVie today announced a collaboration to co-develop and commercialize up to six therapeutic products across several areas.
The partnership spans multiple therapeutic spaces and indications. Under the agreement, Medincell will use its commercial-stage, long-acting injectable technology platform to formulate innovative therapies. It plans to conduct formulation activities and preclinical studies, including supportive CMC work to advance candidates into clinical trials.
AbbVie intends to finance and conduct the clinical development for each program within the collaboration. It holds responsibility for regulatory approval, manufacturing and commercialization.
“This will be an exciting partnership with one of the most innovative and successful pharmaceutical companies,” Christophe Douat, Medincell’s CEO said. “Medincell has entered a new period of growth following the FDA approval of the first product using our technology in April 2023. The full potential of long-acting injectable therapies is getting increasingly recognized.”
Under the terms of the co-development and licensing agreement, Medincell receives up to $35 million in an upfront payment. Over the course of the partnership, it remains eligible to receive up to $1.9 billion in development and commercial milestones. That amounts to $315 million for each of the six programs. Medincell may also receive mid-single to low-double-digit royalties on net sales.
“Our business development is accelerating following FDA approval of our first product,” said Sébastien Enault, Medincell’s chief business officer. “Our technology can help harvest the full potential of many known or yet untapped drugs. We are ready to make this exciting partnership very successful.”
Filed Under: clinical trials, Drug Discovery, Drug Discovery and Development
