AbbVie (ABBV) and Simcere Zaiming, a subsidiary of Simcere Pharmaceutical Group, announced an option to license agreement to develop SIM0500, an investigational new drug candidate. SIM0500 is currently in Phase 1 clinical trials in patients with relapsed or refractory multiple myeloma, in both China and the U.S. Simcere Zaiming will receive an upfront payment from AbbVie and is eligible to receive option fees and milestone payments of up to $1.055B, as well as tiered royalties on net sales outside of the Greater China territory. AbbVie is eligible to receive tiered royalties on net sales in the Greater China territory.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABBV:
- AbbVie, Regenxbio provide updates on ABBV-RGX-314 clinical program
- AbbVie sees $3.5B impairment charge related to emraclidine
- Drugmakers Raise the Prices on 583 Products to Start 2025
- AbbVie price target lowered to $211 from $215 at Truist
- AbbVie (ABBV) Lowers 2024 Earnings Outlook on Acquisition Costs