Dragonfly Therapeutics Announces Multi-Target Expansion of its Research Collaboration with AbbVie to Develop Novel Therapeutic Candidates for Immune-Mediated Diseases

Rhea-AI Summary

Dragonfly Therapeutics and AbbVie are expanding their collaboration to develop new drug candidates targeting autoimmune and fibrotic diseases using Dragonfly's TriNKET™ platform. AbbVie licensed its first TriNKET™ candidate in January 2021 as part of a multi-target collaboration that began in November 2019. Under the new agreement, AbbVie will pay an upfront fee, plus future milestone payments and royalties to Dragonfly for exclusive worldwide rights to multiple new candidates. Both companies aim to deliver innovative treatments to patients.

Positive

• Expansion of collaboration aims to increase drug development for autoimmune and fibrotic diseases.
• AbbVie to pay upfront and milestone payments, potentially increasing Dragonfly's revenue stream.
• Strong progress noted in previous collaborations, indicating a productive partnership.

Negative

• None.

Dragonfly and AbbVie expand their existing collaboration in oncology and autoimmune disease to develop additional drug candidates in immune-mediated diseases using Dragonfly's proprietary Tri-specific NK cell Engager Therapy (TriNKET™) platform

WALTHAM, Mass., April 20, 2022 /PRNewswire/ -- Dragonfly Therapeutics, Inc. ("Dragonfly"), a biotechnology company developing novel immunotherapies that harness the innate immune system to treat disease, today announced an expansion of its research collaboration with AbbVie (NYSE: ABBV) to discover and develop Dragonfly's novel immunotherapies for new targets in autoimmune and fibrotic diseases. AbbVie successfully licensed its first TriNKET™ drug candidate from Dragonfly, part of a multi-target collaboration initiated in November 2019, in January 2021.

"AbbVie is committed to delivering transformative treatment options for patients suffering from autoimmune and fibrotic diseases," said Dr. Jonathon Sedgwick, Vice President and Global Head of Discovery Research at AbbVie. "We have seen strong progress in our current collaboration with Dragonfly focused on their triNKET technology and are pleased to expand our partnership to include additional immunology targets of interest to AbbVie." 

"AbbVie is a global leader in treating immune-mediated diseases, and they continue to be a terrific partner" said Bill Haney, co-founder and chief executive officer of Dragonfly, "we look forward to building on our successful collaboration, and rapidly progressing with the AbbVie team to advance new treatment options for patients."

Under the agreement, Dragonfly will grant AbbVie the option to license exclusive worldwide intellectual property rights to multiple new candidates developed using Dragonfly's TriNKET™ technology platform. AbbVie will pay Dragonfly an upfront payment, future success-based milestone payments and royalties.

About Dragonfly 
Dragonfly Therapeutics, Inc. is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing therapies that use its novel TriNKET™ technology to harness the body's innate immune system to bring breakthrough treatments to patients.

For more information visit: 
www.dragonflytx.com 
https://www.linkedin.com/company/dragonfly-therapeutics-inc 
https://twitter.com/dragonflytx

DRAGONFLY MEDIA CONTACT:
Anne Deconinck | anne@dragonflytx.com

Related Links
http://www.dragonflytx.com

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SOURCE Dragonfly Therapeutics, Inc.

FAQ

What is the significance of the collaboration between AbbVie and Dragonfly?

The collaboration aims to develop new drug candidates for autoimmune and fibrotic diseases using Dragonfly's TriNKET™ platform, potentially leading to innovative treatment options.

When did AbbVie first license a TriNKET™ candidate from Dragonfly?

AbbVie licensed its first TriNKET™ candidate from Dragonfly in January 2021.

What financial terms were included in the expanded collaboration between AbbVie and Dragonfly?

AbbVie will pay an upfront payment, future success-based milestone payments, and royalties for exclusive worldwide rights to multiple new candidates.

What types of diseases are targeted in the AbbVie and Dragonfly collaboration?

The collaboration targets autoimmune and fibrotic diseases.

When was the original collaboration between AbbVie and Dragonfly initiated?

The original collaboration began in November 2019.