AbbVie and Neomorph Announce Collaboration to Develop Molecular Glue Degraders for Oncology and Immunology

Rhea-AI Summary

AbbVie (NYSE: ABBV) and Neomorph have announced a collaboration and option-to-license agreement to develop molecular glue degraders for oncology and immunology targets. The partnership combines AbbVie's expertise in drug development with Neomorph's molecular glue discovery platform.

Molecular glue degraders represent a novel class of small molecules designed to selectively target and trigger degradation of proteins involved in cancer growth and immune system dysregulation, including previously 'undruggable' proteins.

Under the agreement terms, Neomorph will receive an upfront payment and is eligible for up to $1.64 billion in option fees and milestones, plus tiered royalties on net sales.

Positive

• Agreement includes potential payments of up to $1.64 billion plus royalties
• Technology targets previously 'undruggable' proteins
• Expands AbbVie's oncology and immunology pipeline

Negative

• None.

• Collaboration leverages AbbVie's expertise in oncology and immunology drug development and Neomorph's leading molecular glue discovery platform
• Neomorph to receive an upfront payment and is eligible to receive future option fees and milestones of up to $1.64B

NORTH CHICAGO, Ill. and SAN DIEGO, Jan. 23, 2025 /PRNewswire/ -- AbbVie (NYSE: ABBV) and Neomorph, Inc. today announced a collaboration and option-to-license agreement to develop novel molecular glue degraders for multiple targets across oncology and immunology.

Molecular glue degraders are a novel class of small molecules that are designed to selectively target and trigger degradation of proteins that drive cancer growth or immune system dysregulation, offering a more precise approach to treatment. Molecular glue degraders have the potential to target proteins that have historically been defined as "undruggable".

"Protein degraders represent a groundbreaking advancement in the field of drug discovery and at AbbVie we are committed to advancing this technology forward," said Steven Elmore, vice president, small molecule therapeutics and platform technologies at AbbVie. "We are excited to collaborate with Neomorph to develop novel molecular glue degraders which could pave the way for new, effective therapies in the treatment of immune disorders and cancer."

"At Neomorph, we have spent years building a unique molecular glue platform with broad coverage of the proteome," said Phil Chamberlain, DPhil, Co-Founder, President, and Chief Executive Officer of Neomorph. "We are thrilled to partner with AbbVie, a global leader in delivering transformative medicines in oncology and immunology, as we aim to tackle some of the most challenging and valuable targets known."

Under terms of the agreement, Neomorph will receive an upfront payment from AbbVie, and is eligible to receive up to $1.64 billion in aggregate option fees and milestones, as well as tiered royalties on net sales.

About AbbVie
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. AbbVie strives to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in AbbVie's Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter), and YouTube. 

About Neomorph
Neomorph is a biotechnology company solving critical problems in human health through the discovery and development of innovative new medicines against 'undruggable' targets. Neomorph was founded in 2020 and is venture-backed by Deerfield Management Company.

Neomorph's team is comprised of industry-leading experts in protein degradation and molecular glues who have a track record of groundbreaking discoveries in the field. The team at Neomorph is committed to leadership in advancing the science and technology of molecular glue drug discovery, while prosecuting a pipeline of projects through clinical development.

Neomorph is headquartered in San Diego, California. For more information, visit www.neomorph.com and follow us on LinkedIn.

 

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SOURCE AbbVie

FAQ

What is the value of AbbVie's (ABBV) collaboration deal with Neomorph?

The collaboration deal includes up to $1.64 billion in option fees and milestone payments, plus tiered royalties on net sales.

What technology is AbbVie (ABBV) acquiring through the Neomorph partnership?

AbbVie is accessing Neomorph's molecular glue degrader technology, which targets and triggers degradation of proteins involved in cancer growth and immune system dysregulation.

How will the Neomorph collaboration benefit AbbVie's (ABBV) drug development?

The collaboration will allow AbbVie to develop new therapies targeting previously 'undruggable' proteins in oncology and immunology through molecular glue degrader technology.

What therapeutic areas will AbbVie (ABBV) target with Neomorph's technology?

AbbVie will target multiple areas in oncology and immunology using Neomorph's molecular glue degrader platform.