In second innovative deal this month, AbbVie gains option to Alpine’s ‘first-in-class’ lupus program

AbbVie’s deal with Alpine on Thursday is its second innovative partnership in as many weeks, giving the company an option to a Phase II-ready therapy for lupus, a disease that has seen only one targeted therapy approved in the past 50 years.

For Alpine Immune Sciences Inc. (NASDAQ:ALPN), the $60 million upfront payment will enable it to advance its portfolio of fusion proteins for cancer and B cell-mediated diseases on its own. The biotech’s stock more than doubled Thursday, adding $6.29 (135%) to $10.95, pushing its market cap to $203.5 million from $86.6 million...