WASHINGTON (dpa-AFX) - AbbVie Inc. (ABBV) and BigHat Biosciences, Monday announced a research collaboration for next-generation therapeutic antibodies in oncology and neuroscience. The combination is expected to utilize BigHat's Milliner platform, a suite of machine learning technologies integrated with a high-speed wet lab.
As per the agreement, BigHat will receive an upfront payment of $30 million and an additional milestone payment of approximately $325 million, with the potential for further commercial milestones as well as tiered royalties on net sales.
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