AbbVie (ABBV) and ADARx Pharmaceuticals said Wednesday they signed a collaboration and license option agreement to develop small interfering RNA, or siRNA, therapeutics for several disease areas including neuroscience, immunology and oncology.
Under the terms of the deal, ADARx will get a $335 million upfront payment and is eligible to receive "several billion dollars" in contingent payments including option-related fees, milestone payments, and royalties, the companies said.
The collaboration will leverage ADARx's RNA technology together with AbbVie's know-how in antibody engineering, antibody drug conjugates and tissue delivery approaches to advance siRNA therapies.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.