AbbVie Strikes Deal for I-Mab Drug With a Potential Edge in CD47 Chase

The cancer protein CD47 is a hot target for drug developers, but it’s not without issues. Antibody drugs that block this protein can also spark anemia. I-Mab designed its antibody to pose less of an anemia risk and AbbVie, seeing an opportunity to catch up to other CD47 contenders and potentially stand apart from them, has agreed to pay $200 million to secure rights to the compound.

The I-Mab (NASDAQ: IMAB) drug, lemzoparlimab, is currently in early clinical development. The $200 million that AbbVie (NASDAQ: ABBV) is paying Shangahi-based I-Mab (NASDAQ: IMAB) breaks down to $180 million up... Read more »

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Author: Frank Vinluan

Source : https://xconomy.com/national/2020/09/04/abbvie-strikes-deal-for-i-mab-drug-with-a-potential-edge-in-cd47-chase/

Date : 2020-09-04T20:25:39.000Z