11.21.19
Harpoon Therapeutics, Inc., a clinical-stage immunotherapy company, and AbbVie have entered an exclusive worldwide option and license transaction for HPN217, Harpoon’s B cell maturation antigen (BCMA)-targeting Tri-specific T cell Activating Construct (TriTAC). The companies also expanded their existing discovery collaboration for up to six additional targets. These agreements are expected to advance and broaden the use of Harpoon’s TriTAC platform, which produces novel T cell engagers targeting both solid tumors and hematologic malignancies.
Harpoon granted to AbbVie an option to license worldwide exclusive rights to HPN217. Harpoon will be responsible for development through Phase 1/2 trials. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities. The license and option agreement represents a potential transaction value of as much as $510 million in upfront, option and milestone payments, plus royalties on global commercial sales.
Under the expanded agreement, AbbVie will receive worldwide exclusive rights to develop and commercialize two new TriTAC molecules engineered for two selected targets. AbbVie has the option to select up to four additional targets. For each selected target, Harpoon is eligible to receive up to $310 million in upfront and potential development, regulatory and commercial milestones, plus royalties on global sales. Harpoon and AbbVie will conduct certain initial research and discovery activities for each designated target, after which AbbVie will be solely responsible for further development and commercialization efforts.
“Harpoon has built a unique and proprietary biologics platform that utilizes the cancer patient’s own immune system to attack cancer. HPN217, targeting BCMA, is poised to advance to clinical development for the treatment of multiple myeloma,” said Gerald McMahon, Ph.D., president and chief executive officer of Harpoon. “We believe AbbVie is the ideal partner for Harpoon to support the advancement of our BCMA program given the commercial focus of AbbVie in the treatment of this cancer. In addition, we look forward to expanding our discovery collaboration to include up to six additional molecular targets.”
“Harpoon’s BCMA TriTAC holds promise for myeloma patients, and their novel drug development engine, combined with AbbVie’s development expertise, has the potential to generate innovative new medicines for patients with cancer,” said Mohit Trikha, Ph.D., vice president, head, Oncology Early Development and AbbVie Bay Area Site Head. “Our collaboration with Harpoon has been productive and we look forward to further strengthening this collaboration.”
Harpoon granted to AbbVie an option to license worldwide exclusive rights to HPN217. Harpoon will be responsible for development through Phase 1/2 trials. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities. The license and option agreement represents a potential transaction value of as much as $510 million in upfront, option and milestone payments, plus royalties on global commercial sales.
Under the expanded agreement, AbbVie will receive worldwide exclusive rights to develop and commercialize two new TriTAC molecules engineered for two selected targets. AbbVie has the option to select up to four additional targets. For each selected target, Harpoon is eligible to receive up to $310 million in upfront and potential development, regulatory and commercial milestones, plus royalties on global sales. Harpoon and AbbVie will conduct certain initial research and discovery activities for each designated target, after which AbbVie will be solely responsible for further development and commercialization efforts.
“Harpoon has built a unique and proprietary biologics platform that utilizes the cancer patient’s own immune system to attack cancer. HPN217, targeting BCMA, is poised to advance to clinical development for the treatment of multiple myeloma,” said Gerald McMahon, Ph.D., president and chief executive officer of Harpoon. “We believe AbbVie is the ideal partner for Harpoon to support the advancement of our BCMA program given the commercial focus of AbbVie in the treatment of this cancer. In addition, we look forward to expanding our discovery collaboration to include up to six additional molecular targets.”
“Harpoon’s BCMA TriTAC holds promise for myeloma patients, and their novel drug development engine, combined with AbbVie’s development expertise, has the potential to generate innovative new medicines for patients with cancer,” said Mohit Trikha, Ph.D., vice president, head, Oncology Early Development and AbbVie Bay Area Site Head. “Our collaboration with Harpoon has been productive and we look forward to further strengthening this collaboration.”
