AbbVie (NYSE: ABBV) has entered into an option agreement with Aldeyra Therapeutics (NASDAQ: ALDX), a US-based biopharmaceutical company, to acquire a development, manufacturing, and commercialization license for the reactive aldehyde species (RASP) modulator, reproxalap. The agreement grants AbbVie co-exclusive rights in the US and exclusive rights in all other territories for this potential treatment.
Financial Terms and Milestones
According to the contract, Aldeyra will receive a non-refundable option fee of USD 1 million and an upfront payment of USD 100 million, with the option fees deducted from this amount. Additionally, Aldeyra is eligible to receive up to USD 300 million in milestone payments, including a significant USD 100 million payment upon US approval for dry eye disease.
Strategic Benefits for AbbVie
The in-licensing of reproxalap not only provides AbbVie with access to a promising RASP modulator but also grants the company first-access-to-data and first-negotiation rights to other Aldeyra assets in the field of ophthalmology. This strategic move positions AbbVie to potentially expand its portfolio and strengthen its presence in the ophthalmology market.-Fineline Info & Tech
