AbbVie and Neomorph are forming a partnership and option-to-license agreement to develop molecular glue degraders, aiming to introduce a new class of treatments across oncology and immunology.
Tailored to selectively target and induce the degradation of proteins associated with disease progression, the glue degraders target “undruggable” proteins.
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AbbVie will make an upfront payment to Neomorph, which could earn up to $1.64bn in option fees and milestone payments.
Neomorph will receive tiered royalties on net sales.
Founded in 2020, Neomorph is venture-backed by Deerfield Management Company and specialises in creating medicines for previously “undruggable” targets. It is headquartered in San Diego, California, US.
Neomorph CEO, president and co-founder Phil Chamberlain stated: “At Neomorph, we have spent years building a unique molecular glue platform with broad proteome coverage.
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By GlobalData“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.”
In a separate development, AbbVie has completed the acquisition of Nimble Therapeutics, which is now integrated into AbbVie’s operations.
The oral peptide interleukin 23 receptor (IL23R) inhibitor, which is the lead asset of Nimble, is currently in preclinical stages and is aimed at treating psoriasis.
AbbVie discovery research global head and senior vice-president Jonathon Sedgwick said: “With the acquisition now complete, we are excited to expand our immunology pipeline to include Nimble’s novel oral peptide assets and look forward to integrating this proprietary technology into our research and development capabilities.
“We are pleased to welcome the talented team at Nimble who share our commitment to elevating the standard of care for people living with autoimmune diseases.”
The acquisition deal for Nimble was announced in December 2024, with AbbVie agreeing to a $200m cash payment at closing, alongside possible interim funding payments.
