WASHINGTON (dpa-AFX) - AbbVie Inc. (ABBV) and ADARx Pharmaceuticals, Wednesday announced a collaboration and license option agreement to develop small interfering RNA or siRNA therapeutics across multiple disease areas including neuroscience, immunology and oncology.
As per the terms of the deal, ADARx will receive a $335 million upfront payment and several billion dollars in additional contingent payments.
The collaboration will integrate ADARx's RNA discovery expertise and proprietary siRNA technology with AbbVie's expertise in antibody engineering, antibody drug conjugates, tissue delivery approaches and commercialization.
In the pre-market hours, AbbVie's stock is trading at $186.51, down 0.79 percent on the New York Stock Exchange.
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