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