Cugene strikes $48.5M AbbVie deal as cancer pipeline nears clinic

Under a deal granting AbbVie an option on its Treg-selective IL-2 mutein for autoimmune disorders, Cugene will receive $48.5 million that will help fuel development of a cancer pipeline that houses at least two programs nearing INDs by next year.

Cugene Inc. is developing precision-engineered therapies for cancer and autoimmune diseases, but lists only CUG252 for the latter category. That compound is the subject of Monday’s deal giving AbbVie Inc. (NYSE:ABBV) an exclusive option to obtain its global rights. Cugene is eligible to receive an option fee, milestones and royalties; specific terms remain undisclosed...