AbbVie and Tentarix Biotherapeutics have joined forces in a collaboration aimed at developing biologics targeting oncology and immunology.
Under the agreement, AbbVie will make upfront option payments totaling $64 million to Tentarix for two programs. Additionally, AbbVie will have an exclusive option to acquire the programs upon candidate nomination, with additional undisclosed payments for each.
This partnership will give AbbVie access to Tentarix's proprietary Tentacles platform, which offers specialized antibody-based biologics designed to activate immune cells selectively, potentially addressing safety concerns associated with non-specific targeting.
The same platform attracted the attention of Gilead last year, with the companies entering into three multi-year collaborations to develop therapies for cancer and inflammatory diseases. Per the deal, Tentarix received upfront payments and an equity investment from Gilead totaling $66 million.
Just yesterday, AbbVie announced that its founding CEO, Richard Gonzalez, retired from his role and transitioned to executive chairman of the board of directors. AbbVie's board unanimously appointed Robert Michael, the company's former president and COO, to succeed Gonzalez, with the change taking effect on July 1, 2024.
