BioCentury
ARTICLE | Company News

Stemcentrx, AbbVie deal

May 2, 2016 7:00 AM UTC

AbbVie will acquire Stemcentrx for about $2 billion in cash and $3.8 billion in stock. Stemcentrx shareholders are eligible for an additional $4 billion in milestones. Both companies’ boards have approved the deal, which is expected to close this quarter.

The deal gives AbbVie Rova-T rovalpituzumab tesirine, which is in the registrational Phase II TRINITY trial as a third-line therapy for small cell lung cancer (SCLC). AbbVie expects enrollment in the study to be complete by year end and hopes Rova-T can reach the market by 2018. AbbVie also expects to start a registrational study in 1H17 of Rova-T as a first-line therapy for SCLC. Rova-T is an antibody-drug conjugate (ADC) that targets delta-like 3 (DLL3). ...