Sosei Group Corporation has reached an important R&D milestone under its discovery collaboration with AbbVie. The achievement triggers a payment of US$10 million to Sosei Heptares.
Sosei Heptares and AbbVie entered into this discovery collaboration and option-to-license agreement in 2020 to discover, develop and commercialize novel small molecule medicines that modulate GPCR targets of interest to AbbVie.
Under the terms of the agreement, Sosei Heptares is eligible to receive up to US$32 million in upfront and near-term milestone payments, as well as potential option, development and commercial milestones of up to $377 million, plus tiered royalties on global commercial sales.
Separately, Sosei Heptares and AbbVie also have a multi-target collaboration underway (signed in 2022), to discover, develop and commercialize novel medicines targeting neurological diseases and worth up to a potential US$1.2 billion to Sosei Heptares, plus royalties on sales.
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