Dragonfly Therapeutics Announces Collaboration with AbbVie in Autoimmune Diseases and Oncology

On November 21, 2019 Dragonfly Therapeutics ("Dragonfly"), a biotech company developing novel immunotherapies that use the natural immune system to treat disease, and AbbVie (NYSE: ABBV ), a research-driven, global biopharmaceutical company, reported their collaboration to explore multiple targets with a focus on advancing a range of novel Dragonfly-based immunotherapies based on autoimmune and oncological antibodies to natural killer cells Indications were developed (Press release, Dragonfly Therapeutics, NOV 21, 2019, View Source [SID1234551543]).

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The collaboration gives AbbVie the option to license exclusive intellectual property rights worldwide to develop and market products targeted to specific targets. These targets were developed using Dragonfly’s TriNKET technology platform.

"AbbVie is committed to providing patients with better treatment options by investing in breakthrough technologies and platforms," ​​said Tom Hudson , MD, senior vice president of research and development and chief scientific officer at AbbVie. "The Dragonfly team has made impressive progress in advancing their platform, and they’ve demonstrated the potential in their technology to treat a whole range of diseases."

"AbbVie is a global leader in the treatment of chronic, immune-mediated diseases and is setting new standards in caring for people living with cancer," said Dragonfly Co-Founder and Chief Executive Officer Bill Haney , "We look forward to working with the AbbVie team to develop new treatments for patients. "

AbbVie will make an upfront payment to Dragonfly and, if successful, interim payments on major landmarks and royalties.