(AOF) – Ose Immunotherapeutics (+54.61% to 5.11 euros) posts the strongest increase in the SRD market after announcing a global collaboration and licensing agreement with the American Abbvie to develop OSE-230, an antibody monoclonal designed to resolve chronic inflammation. The biotech will receive a payment of $48 million upon signing the contract and may receive up to an additional $665 million in milestone payments. OSE-230 is designed to activate ChemR23, a GPCR (G-Protein Coupled Receptor) target.
Activation of ChemR23 provides a new mechanism against chronic inflammation by targeting both macrophages and neutrophils.
“This collaboration highlights our desire to expand our immunology product portfolio with the ultimate goal of improving the standard treatment of patients suffering from inflammatory diseases around the world,” commented Jonathon Sedgwick, Ph.D. , vice president and global head of discovery research at AbbVie. “Building on our expertise in immunology drug development, we look forward to advancing OSE-230 which presents an innovative mechanism of action to treat chronic inflammation.”
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
