Calico, AbbVie in age-related disease R&D deal
AbbVie Inc. (NYSE:ABBV) and Calico LLC (San Francisco, Calif.) will provide up to $1.5 billion to discover, develop and commercialize treatments for age-related diseases, including neurodegeneration and cancer. The companies will each provide up to $250 million initially and may contribute an additional $500 million.
Under the 10-year deal, Calico will be responsible for research and early development through Phase IIa testing. AbbVie will provide scientific and clinical development support. Following completion of Phase IIa trials, AbbVie will have an option to license exclusive, worldwide rights to the programs. The partners, which will equally share costs and profits, declined to disclose details regarding potential targets or treatments. ...