- Collaboration leverages AbbVie's expertise in oncology and immunology drug development and Neomorph's leading molecular glue discovery platform
- Neomorph to receive an upfront payment and is eligible to receive future option fees and milestones of up to $1.64B
NORTH CHICAGO, Ill. and SAN DIEGO, Jan. 23, 2025 /PRNewswire/ -- AbbVie (NYSE: ABBV) and Neomorph, Inc. today announced a collaboration and option-to-license agreement to develop novel molecular glue degraders for multiple targets across oncology and immunology.
Molecular glue degraders are a novel class of small molecules that are designed to selectively target and trigger degradation of proteins that drive cancer growth or immune system dysregulation, offering a more precise approach to treatment. Molecular glue degraders have the potential to target proteins that have historically been defined as "undruggable".
"Protein degraders represent a groundbreaking advancement in the field of drug discovery and at AbbVie we are committed to advancing this technology forward," said Steven Elmore, vice president, small molecule therapeutics and platform technologies at AbbVie. "We are excited to collaborate with Neomorph to develop novel molecular glue degraders which could pave the way for new, effective therapies in the treatment of immune disorders and cancer."
"At Neomorph, we have spent years building a unique molecular glue platform with broad coverage of the proteome," said Phil Chamberlain, DPhil, Co-Founder, President, and Chief Executive Officer of Neomorph. "We are thrilled to partner with AbbVie, a global leader in delivering transformative medicines in oncology and immunology, as we aim to tackle some of the most challenging and valuable targets known."
Under terms of the agreement, Neomorph will receive an upfront payment from AbbVie, and is eligible to receive up to $1.64 billion in aggregate option fees and milestones, as well as tiered royalties on net sales.
About AbbVie
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. AbbVie strives to have a remarkable impact on people's lives across several key therapeutic areas - immunology, oncology, neuroscience, and eye care - and products and services in AbbVie's Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter), and YouTube.
About Neomorph
Neomorph is a biotechnology company solving critical problems in human health through the discovery and development of innovative new medicines against 'undruggable' targets. Neomorph was founded in 2020 and is venture-backed by Deerfield Management Company.
Neomorph's team is comprised of industry-leading experts in protein degradation and molecular glues who have a track record of groundbreaking discoveries in the field. The team at Neomorph is committed to leadership in advancing the science and technology of molecular glue drug discovery, while prosecuting a pipeline of projects through clinical development.
Neomorph is headquartered in San Diego, California. For more information, visit www.neomorph.com and follow us on LinkedIn.
SOURCE AbbVie
