AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, has entered into a partnership with France-based biopharmaceutical firm Medincell (EPA: MEDCL) to develop up to six long-acting injectable treatments across multiple therapeutic areas. As per the agreement, Medincell will receive an upfront payment of USD 35 million, with the potential for up to USD 1.9 billion in milestone payments and sales royalties.
Medincell will be responsible for the pre-clinical development of these innovative treatments, after which AbbVie will take responsibility for financing and conducting clinical trials, regulatory approvals, manufacturing, and commercialization.
Medincell’s proprietary technology enables controlled drug delivery for up to several months through an injectable millimetric deposit. This technology is utilized in Uzedy (risperidone), Medincell’s first product approved in the United States, AbbVie’s home market. – Flcube.com
