Jazz and AbCellera sign oncology agreement
- Jazz Pharmaceuticals (NASDAQ:JAZZ) and AbCellera (NASDAQ:ABCL) entered a research collaboration to develop T-cell engaging multispecific antibodies.
- Jazz shares traded at $230, and AbCellera shares traded at $5.25 following the announcement.
- The partnership seeks to discover therapeutic candidates targeting gastrointestinal cancers and other solid tumors.
Jazz Pharmaceuticals (NASDAQ:JAZZ) and AbCellera (NASDAQ:ABCL) executed a preclinical research collaboration to discover and develop T-cell engaging (TCE) multispecific antibodies.
The deal aims to leverage antibody discovery technology to create potential therapeutic candidates for patients with gastrointestinal cancers and other solid tumors.
Under the terms of the agreement, AbCellera will receive $56 million in upfront payments for two initial programs and $28 million upon starting a third program.
The company stated that AbCellera is eligible to receive up to $792 million per program in option fees, development, regulatory, and commercial milestone payments.
Jazz Pharmaceuticals maintains a long-term focus on rare diseases and oncology through its existing pipeline of therapeutic products.
AbCellera continues to provide an integrated discovery platform designed to identify and engineer antibodies for complex cancer treatments.
