- AbbVie and FutureGen Biopharmaceutical Co., Ltd. have announced a license agreement to develop FG-M701, a next-generation TL1A antibody for the treatment of IBD currently in preclinical development.
AbbVie and FutureGen Biopharmaceutical Co., Ltd. have entered into a license agreement to develop FG-M701, a next-generation TL1A antibody for the treatment of IBD. FG-M701 is a fully human monoclonal antibody targeting TL1A, a target in IBD. The antibody is engineered with potential functional characteristics compared to first-generation TL1A antibodies, aiming to drive greater efficacy and less frequent dosing as a therapy for IBD.
Under the agreement, AbbVie will receive an exclusive global license to develop, manufacture and commercialize FG-M701. In return, FutureGen will receive $150 million in upfront and near-term milestone payments. Additionally, FutureGen will be eligible to receive up to an additional $1.56 billion in clinical development, regulatory and commercial milestones, as well as tiered royalties on net sales.
“The prevalence of IBD continues to increase, and many people living with ulcerative colitis and Crohn’s disease do not respond to current therapies,” said Jonathon Sedgwick, Ph.D., senior vice president and global head of discovery research, AbbVie. “Our mission includes the pursuit of therapies that help more patients living with autoimmune diseases achieve remission. We look forward to our collaboration with FutureGen in advancing development of FG-M701 for the treatment of IBD.”
Zhaoyu Jin, Ph.D., founder and CEO, FutureGen Biopharmaceutical (Beijing) Co., Ltd., expressed his pleasure at partnering with AbbVie. He believes that AbbVie’s expertise and global scale will help realize FG-M701’s therapeutic potential and advance this therapy for patients suffering from IBD. The collaboration also highlights FutureGen’s ability to generate potential product candidates with their proprietary Structure-based Targeted Evolution Platform (STEP) technology platform.
Overview of outsourcing trends 
