OSE Immunotherapeutics shares soar on AbbVie deal news

28 February 2024

French immunotherapy company OSE Immunotherapeutics (Euronext Paris: OSE) was trading more than 50% higher by late Wednesday.

This followed the announcement of OSE’s strategic partnership with US pharma major AbbVie (NYSE: ABBV) to develop OSE-230, a monoclonal antibody designed to resolve chronic and severe inflammation, currently in the pre-clinical development stage.

"A major milestone in our company’s progress"OSE-230 is designed to activate ChemR23, a G-protein coupled receptor target. Activation of ChemR23 may offer a novel mechanism for resolution of chronic inflammation, modulating functions of both macrophages and neutrophils, OSE believes.

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