AbbVie and Medincell Enter Long-acting Injectables (LAI) Deal Worth up to $1.9B
French biotech Medincell announced on Tuesday entering into a collaboration with AbbVie, to co-develop up to six innovative long-acting injectable (LAI) therapies, with AbbVie handling the commercialisation. Medincell is set to receive an initial payment of $35 million and could potentially earn up to $1.9 billion in development and commercial milestones. Additionally, they will receive royalties from global sales.
This partnership capitalises on Medincell’s expertise in developing commercial-stage LAI’s and AbbVie’s comprehensive experience in clinical development and commercialisation.
Medincell will use its commercial-stage long-acting injectable technology platform to formulate up to six therapeutic products across multiple therapeutic areas and indications. The company will conduct formulation activities and preclinical studies, including supportive CMC work to advance candidates into clinical trials. AbbVie will finance and conduct the clinical development for each program and will be responsible for regulatory approval, manufacturing, and commercialisation.
Christophe Douat, Medincell’s CEO said:
“This will be an exciting partnership with one of the most innovative and successful pharmaceutical companies. 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.”
Sébastien Enault, Medincell’s Chief Business Officer added:
“Our business development is accelerating following FDA approval of our first product. 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.”
As per the co-development and licensing agreement for up to six projects, Medincell will be granted an upfront sum of $35 million and has the potential to earn as much as $1.9 billion in development and commercial milestones, with $315 million allocated for each project. Additionally, Medincell stands to gain royalties on net sales, ranging from mid-single digits to low double digits.
Based in Montpellier, Medincell is a clinical- and commercial-stage biopharmaceutical licensing company developing long-acting injectable drugs in many therapeutic areas. They combine API’s with the company’s proprietary BEPO® technology which controls the delivery of a drug at a therapeutic level for several days, weeks or months from the subcutaneous or local injection of a simple deposit of a few millimeters, entirely bioresorbable.
For more information please visit: www.medincell.com
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