Medincell has signed a strategic co-development and licensing agreement with AbbVie to develop next-generation long-acting injectable therapies.
The partnership will jointly develop and market six therapeutic products across various therapeutic areas and indications.
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Medincell will leverage its commercial stage long-acting injectable technology platform to formulate the new therapeutics.
The company will also be responsible for formulation activities and preclinical studies, including supportive chemistry, manufacturing and controls to progress the potential therapeutic candidates towards clinical trials.
AbbVie will provide financing, undertake the clinical development for each programme and take charge of the regulatory approval process, manufacturing and commercialisation of the products.
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Medincell CEO Christophe Douat stated: “This will be an exciting partnership with one of the most innovative and successful pharmaceutical companies.
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By GlobalData“Medincell has entered a new period of growth following the FDA [US Food and Drug Administration] approval of the first product using our technology in April 2023. The full potential of long-acting injectable therapies is getting increasingly recognised.”
Medincell will receive an upfront payment of $35m and up to $1.9bn in milestone payments on meeting development and commercial goals, with each programme potentially contributing $315m.
AbbVie will make royalty payments on net sales of the products to Medincell.
Medincell chief business officer Sébastien Enault stated: “Our business development is accelerating following FDA approval of our first product.
“Our technology can help harvest the full potential of many known or [as] yet untapped drugs. We are ready to make this exciting partnership very successful.”
The latest development comes after AbbVie signed a definitive agreement to acquire clinical-stage biopharmaceutical company Landos Biopharma for $212.5m.
