AbbVie is doling out $30 million in cash to ink an oncology pact with Immunome and potentially identify up to 10 new target-antibody pairs using the biotech’s discovery engine.
According to the multiyear deal, AbbVie has the option to purchase worldwide rights for up to 10 new target-antibody pairs arising from three specified tumor types. Immunome will be eligible to receive platform access payments of up to $70 million total if AbbVie wants the biotech to keep conducting research. AbbVie will also pay an option exercise fee in the low single-digit millions for each pair it chooses, according to a Jan. 4 filing with the Securities and Exchange Commission.
Immunome could also make up to $120 million per target in development and commercial milestones for products derived from the pairs AbbVie buys, with the potential for additional sales milestone payments of up to $150 million per target, plus royalties.
Immunome, a clinical-stage company based in Pennsylvania, uses its human memory B cell platform to discover and develop new antibody therapeutics. The new pact aligns with Immunome’s strategy to maximize drug discovery potential via partnerships across many therapeutic segments, alongside advancing its own proprietary pipeline, according to Immunome President and CEO Purnanand Sarma, Ph.D.
The biotech’s main focus is on oncology and infectious disease. Its most advanced pipeline candidate is an antibody cocktail for COVID-19 that is being assessed in a phase 1b trial. Last year, the trial was hit with an FDA hold related to the preparation and administration of its antibody cocktail, which targets three different parts of the spike protein on the coronavirus in an effort to elicit a more durable immune response. The hold was lifted two months later after the biotech submitted FDA-requested information to the agency.
The biotech is currently seeking a partner to finish the rest of the trial.
Editor's note: This article was updated with further information regarding payments disclosed solely in SEC filings.