(CercleFinance.com) – OSE Immunotherapeutics announced on Wednesday the entry into force of its global licensing agreement with AbbVie, aimed at developing a monoclonal antibody for the treatment of chronic inflammation.
The immunotherapy company explains that the review period provided for under the American Hart-Scott-Rodino Act has now expired, paving the way for the operation.
In February, OSE granted an exclusive worldwide license to AbbVie to develop its OSE-230, a preclinical monoclonal antibody designed to resolve chronic and severe inflammation.
Under the terms of the agreement, the French company will be able to receive the expected upfront payment of $48 million, to which could be added up to an additional $665 million in development, regulatory and commercialization milestone payments and royalties.
On the Paris Stock Exchange, OSE Immunotherapeutics shares rose 3% following this announcement. The stock has posted a gain of more than 11% since the start of the year.