WASHINGTON (dpa-AFX) - AbbVie (ABBV) and Calico Life Sciences agreed to extend their collaboration to discover, develop and bring to market new therapies for patients with age-related diseases, including neurodegeneration and cancer. It is the second extension of the collaboration originally established in 2014.
As part of the collaboration, working together with AbbVie, Calico pursues discovery-stage research and development utilizing state-of-the-art technology and advanced computing capabilities. AbbVie provides scientific and clinical development support and will lend its expertise to future commercialization activities.
As per the terms of the deal, the collaboration between the two companies will extend in 2022 for an additional three years. Calico will be responsible for research and early development until 2025 and will advance collaboration projects into Phase 2a through 2030.
AbbVie will continue to support Calico in its early R&D efforts and, following completion of Phase 2a studies, will have the option to manage late-stage development and commercial activities.
The companies will share costs and profits equally. They will each commit to contribute an additional $500 million to the collaboration.
Copyright RTT News/dpa-AFX
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