Harpoon Therapeutics & AbbVie sign HPN2017 license agreement
Category: #health  By Mateen Dalal  Date: 2019-11-23
  • share
  • Twitter
  • Facebook
  • LinkedIn

Harpoon Therapeutics & AbbVie sign HPN2017 license agreement

Clinical-stage immunotherapy firm Harpoon Therapeutics & biopharma company AbbVie Inc have reportedly announced a collaboration to obtain a global license for HPN217. HPN217 is a BCMA (B cell maturation antigen) - targeting Tri-specific T cell Activating Construct also known as TriTAC, developed by Harpoon.

This collaboration is an extension of a prevailing discovery collaboration between the two companies, established in October 2017. The new licensing & option agreement is anticipated to broaden the scope of Harpoon’s exclusive TriTAC platform. This platform is designed to produced new T cell engagers that target hematologic malignancies as well as solid tumors.

Harpoon President & CEO, Gerald McMahon, Ph.D., has reportedly stated that HPN217 is all set for the clinical development stage of multiple myeloma treatment. Harpoon’s unique and exclusive biologics platform leverages the patients’ own immune system to attack and treat their cancer.

According to Dr. McMahon, AbbVie’s intense focus on multiple myeloma treatment makes it the ideal collaborator for Harpoon in the progression of their BCMA program. He further expressed his anticipation towards adding six more molecular targets to their existing discovery collaboration.

Mohit Trikha, Ph.D., VP and Oncology Early Development & AbbVie Bay Area Site Head, also expressed his views on the partnership, stating that the existing collaboration with Harpoon has showed great productivity to date. He also claimed that Harpoon’s robust drug development engine and their BCMA TriTAC program coupled with AbbVie’s expertise in development, will present promising treatment options for myeloma patients.

According to the license and option agreement terms, Harpoon has granted AbbVie an option to license exclusive rights for HPN217 worldwide. The HPN217 development will be undertaken by Harpoon through Phase ½ clinical studies.

Once the action is exercised, AbbVie will be responsible for further clinical developments, production and commercialization processes. Upon completion of the Phase 1 / 2 trials, AbbVie may implement the option to license HPN217.

The license and option agreement indicates upfront, option and milestone payments of a potential transaction valuation of nearly $510 million, in addition to global commercial sales royalties.
 

Source Credit: https://ir.harpoontx.com/news-releases/news-release-details/harpoon-therapeutics-and-abbvie-announce-licensing-and-option

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

Saudi Arabia aims for net-zero carbon emissions by the year 2060
Saudi Arabia aims for net-zero carbon emissions by the year 2060
By Mateen Dalal

Global oil producer, Saudi Arabia has recently stated that it intends to reach zero greenhouse gas emission levels by 2060, thereby joining the bandwagon with other 100 countries towards limiting the impact of climate change. Although the kingdom pl...

Abbott unites with Real Madrid to aid child welfare worldwide
Abbott unites with Real Madrid to aid child welfare worldwide
By Mateen Dalal

Abbott’s partnership with Real Madrid will cater to children’s education, social welfare, sports activities in around 80 countries It will also provide health and nutritional assistance to Academy teams and product development and inn...

TotalEnergies commences its UK Offshore Wind Hub in Scotland
TotalEnergies commences its UK Offshore Wind Hub in Scotland
By Mateen Dalal

French oil and gas major, TotalEnergies SE has inaugurated its UK Offshore Wind Hub in Scotland which will be part of the company's existing offshore operations center in Aberdeen and allow employees to shift from oil and gas to offshore win...