Chicago-based drug major AbbVie (NYSE: ABBV) and privately-held San Diego firm Neomorph have announced a collaboration and option-to-license agreement to develop novel molecular glue degraders for multiple targets across oncology and immunology.
Neomorph will receive an undisclosed upfront payment from AbbVie, and is eligible to receive up to $1.64 billion in aggregate option fees and milestones, as well as tiered royalties on net sales.
Molecular glue degraders are a novel class of small molecules that are designed to selectively target and trigger degradation of proteins that drive cancer growth or immune system dysregulation, offering a more precise approach to treatment. They are seen to have the potential to target proteins that have historically been defined as undruggable.
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