Neomorph Secures Third Major Collaboration with AbbVie for Molecular Glue Degraders Worth Up to $1.64 Billion
Collaboration Details:
Neomorph and AbbVie have entered into a collaboration and option-to-license agreement to develop molecular glue degraders, a novel class of small molecules designed to selectively degrade disease-driving proteins in oncology and immunology145.
Deal Value:
The deal could reach up to $1.64 billion in milestone payments, with Neomorph receiving an upfront payment and tiered royalties on net sales145.
Neomorph Background:
Neomorph is a venture-backed biotechnology company founded in 2020, specializing in creating medicines for previously "undruggable" targets. It is headquartered in San Diego, California25.
Previous Deals:
This is Neomorph's third major collaboration, following deals with Biogen (up to $1.45 billion) and Novo Nordisk (up to $1.46 billion) for molecular glue degraders12.
Molecular Glue Degraders:
These drugs bring together proteins that wouldn’t typically interact, targeting "undruggable" proteins and offering potential breakthroughs in oncology and immunology145.
Sources:
1. https://www.biospace.com/business/abbvie-teams-up-with-neomorph-for-molecular-glue-collab-worth-up-to-1-64b
4. https://www.pharmexec.com/view/abbvie-neomorph-strike-deal-co-develop-molecular-glue-degraders-oncology-immunology
5. https://www.pharmaceutical-technology.com/news/abbvie-neomorph-glue-degraders/