AbbVie has partnered with Neomorph to develop new molecular glue degraders (MGDs) for multiple targets across oncology and immunology, with the deal worth $1.64bn.
The collaboration and option-to-licence agreement combines AbbVie’s capabilities in oncology and immunology drug development with Neomorph’s molecular glue discovery platform.
MGDs are a relatively new class of drugs designed to selectively target and trigger degradation of proteins that drive immune system dysregulation cancer growth.
The approach is believed to open up opportunities to target proteins that are considered ‘undruggable’ by conventional therapeutics.
Neomorph will receive an undisclosed upfront payment under the deal and will be eligible for up to $1.64bn in option fees and milestones, as well as tiered royalties on net sales.
Steven Elmore, vice president, small molecule therapeutics and platform technologies at AbbVie, said protein degraders “represent a groundbreaking advancement in the field of drug discovery”.
“We are excited to collaborate with Neomorph to develop novel MGDs which could pave the way for new, effective therapies in the treatment of immune disorders and cancer,” Elmore said.
Also commenting on the alliance, Phil Chamberlain, co-founder, president and chief executive officer of Neomorph, said: “At Neomorph, we have spent years building a unique molecular glue platform with broad coverage of the proteome.
“We are thrilled to partner with AbbVie… as we aim to tackle some of the most challenging and valuable targets known.”
The deal is not AbbVie’s first of the year after it partnered with Simcere Zaiming earlier this month to develop an investigational drug candidate for multiple myeloma.
The companies’ option-to-licence agreement worth over $1bn covers Simcere Zaiming’s SIM0500, a trispecific antibody currently in phase 1 clinical development in the US and China for patients with relapsed or refractory multiple myeloma.
AbbVie has also just completed its previously announced $200m acquisition of Nimble Therapeutics, marking a notable boost to its immunology pipeline.
The agreement includes Nimble’s lead asset, an investigational oral peptide IL23R inhibitor currently in preclinical development for psoriasis and inflammatory bowel disease, as well as a pipeline of other oral peptide candidates with potential across several autoimmune diseases.