AbbVie To License I-Mab's Anti-CD47 Monoclonal Antibody Lemzoparlimab

(RTTNews) - AbbVie (ABBV) and I-Mab (IMAB) have signed a global collaboration agreement for the development and commercialization of lemzoparlimab, an anti-CD47 monoclonal antibody internally discovered and developed by I-Mab for the treatment of multiple cancers. AbbVie will pay I-Mab $180 million in an upfront payment to exclusively license lemzoparlimab, along with $20 million in a milestone payment based on the Phase 1 results, for a total of $200 million.

Under the agreement, I-Mab will be eligible to receive up to $1.74 billion in success-based milestone payments for lemzoparlimab. Upon commercialization of lemzoparlimab, AbbVie will also pay tiered royalties from low-to-mid teen percentages on global net sales outside of greater China.