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AbbVie and Ichnos Glenmark Innovation (IGI) Announce Exclusive Global Licensing Agreement for ISB 2001, a First-in-Class CD38×BCMA×CD3 Trispecific Antibody

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AbbVie (NYSE: ABBV) has entered into an exclusive licensing agreement with IGI Therapeutics SA for ISB 2001, a first-in-class CD38×BCMA×CD3 trispecific antibody currently in Phase 1 clinical trials for relapsed/refractory multiple myeloma.

Under the agreement, AbbVie gains exclusive rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China. IGI will receive an upfront payment of $700 million and is eligible for up to $1.225 billion in milestone payments, plus tiered, double-digit royalties on net sales.

ISB 2001 was developed using IGI's proprietary BEAT® protein platform and represents a new frontier in immuno-oncology by engaging multiple targets simultaneously.

AbbVie (NYSE: ABBV) ha stipulato un accordo di licenza esclusiva con IGI Therapeutics SA per ISB 2001, un anticorpo trispecifico CD38×BCMA×CD3 di prima classe attualmente in fase 1 di sperimentazione clinica per il mieloma multiplo recidivante/refrattario.

Secondo l'accordo, AbbVie ottiene i diritti esclusivi per sviluppare, produrre e commercializzare ISB 2001 in Nord America, Europa, Giappone e Grande Cina. IGI riceverà un pagamento iniziale di 700 milioni di dollari ed è idonea a ricevere fino a 1,225 miliardi di dollari in pagamenti legati a milestone, oltre a royalties a doppia cifra su scala progressiva sulle vendite nette.

ISB 2001 è stato sviluppato utilizzando la piattaforma proteica proprietaria BEAT® di IGI e rappresenta una nuova frontiera nell'immuno-oncologia grazie al coinvolgimento simultaneo di più bersagli.

AbbVie (NYSE: ABBV) ha firmado un acuerdo de licencia exclusiva con IGI Therapeutics SA para ISB 2001, un anticuerpo trispecífico CD38×BCMA×CD3 de primera clase que actualmente se encuentra en ensayos clínicos de fase 1 para mieloma múltiple en recaída/refractario.

Según el acuerdo, AbbVie obtiene los derechos exclusivos para desarrollar, fabricar y comercializar ISB 2001 en Norteamérica, Europa, Japón y Gran China. IGI recibirá un pago inicial de 700 millones de dólares y puede recibir hasta 1.225 millones de dólares en pagos por hitos, además de regalías escalonadas de dos dígitos sobre las ventas netas.

ISB 2001 fue desarrollado utilizando la plataforma proteica patentada BEAT® de IGI y representa una nueva frontera en la inmunooncología al dirigirse simultáneamente a múltiples objetivos.

AbbVie (NYSE: ABBV)� IGI Therapeutics SA와 ISB 2001� 대� 독점 라이선스 계약� 체결했습니다. ISB 2001은 현재 재발/불응� 다발� 골수종을 대상으� 1� 임상시험 중인 최초� CD38×BCMA×CD3 삼중특이 항체입니�.

� 계약� 따라 AbbVie� 북미, 유럽, 일본 � 대중국 지역에� ISB 2001� 개발, 제조 � 상업화할 독점 권리� 획득합니�. IGI� 7� 달러� 선급�� 받고, 최대 12� 2,500� 달러� 마일스톤 지급금� 순매출에 따른 단계� � 자릿� 로열티를 받을 자격� 있습니다.

ISB 2001은 IGI� 독자적인 BEAT® 단백� 플랫폼을 사용� 개발되었으며, 여러 표적� 동시� 겨냥하는 면역항암 분야� 새로� 지평을 열고 있습니다.

AbbVie (NYSE: ABBV) a conclu un accord de licence exclusive avec IGI Therapeutics SA pour ISB 2001, un anticorps trispecifique CD38×BCMA×CD3 de première classe actuellement en essais cliniques de phase 1 pour le myélome multiple en rechute/réfractaire.

Dans le cadre de cet accord, AbbVie obtient les droits exclusifs de développer, fabriquer et commercialiser ISB 2001 en Amérique du Nord, en Europe, au Japon et en Grande Chine. IGI recevra un paiement initial de 700 millions de dollars et pourra percevoir jusqu'à 1,225 milliard de dollars en paiements liés à des jalons, ainsi que des redevances échelonnées à deux chiffres sur les ventes nettes.

ISB 2001 a été développé grâce à la plateforme protéique propriétaire BEAT® d’IGI et représente une nouvelle avancée en immuno-oncologie en ciblant plusieurs cibles simultanément.

AbbVie (NYSE: ABBV) hat eine exklusive Lizenzvereinbarung mit IGI Therapeutics SA für ISB 2001 geschlossen, einen neuartigen trispezifischen Antikörper CD38×BCMA×CD3, der sich derzeit in Phase-1-Studien bei rezidivierendem/refraktärem Multiplen Myelom befindet.

Im Rahmen der Vereinbarung erhält AbbVie exklusive Rechte zur Entwicklung, Herstellung und Vermarktung von ISB 2001 in Nordamerika, Europa, Japan und Großchina. IGI erhält eine Vorabzahlung von 700 Millionen US-Dollar und hat Anspruch auf bis zu 1,225 Milliarden US-Dollar an Meilensteinzahlungen sowie gestaffelte zweistellige Lizenzgebühren auf den Nettoumsatz.

ISB 2001 wurde mit IGIs proprietärer BEAT® Proteinplattform entwickelt und stellt eine neue Dimension in der Immunonkologie dar, indem es mehrere Ziele gleichzeitig anspricht.

Positive
  • Significant deal value with $700M upfront payment and potential $1.225B in milestone payments
  • Access to novel trispecific antibody technology targeting multiple myeloma
  • Expansion of AbbVie's oncology portfolio with first-in-class therapy
  • Strategic entry into growing multispecific antibody market
Negative
  • ISB 2001 still in early Phase 1 trials with uncertain clinical outcomes
  • Substantial upfront investment required before proof of efficacy

Insights

AbbVie's $700M upfront deal for IGI's novel trispecific antibody strengthens its multiple myeloma pipeline with significant market potential.

This licensing agreement represents a substantial strategic investment by AbbVie to bolster its oncology portfolio, particularly in multiple myeloma where unmet needs persist despite recent therapeutic advances. The $700 million upfront payment coupled with potential milestone payments totaling $1.225 billion plus double-digit royalties signals AbbVie's high confidence in ISB 2001's potential commercial value.

ISB 2001's trispecific mechanism targeting CD38×BCMA×CD3 represents cutting-edge immuno-oncology science. By simultaneously engaging multiple targets, this approach aims to overcome resistance mechanisms that limit current therapies. The BEAT® protein platform that generated this candidate has distinguished itself with this first-in-class molecule currently in Phase 1 for relapsed/refractory multiple myeloma patients.

For AbbVie, this acquisition strategically complements their existing oncology franchise and addresses potential future competitive pressures from patent cliffs in other therapeutic areas. For IGI, retaining rights outside North America, Europe, Japan and Greater China while securing substantial milestone opportunities represents an impressive deal structure that validates their platform technology.

The valuation metrics—particularly the substantial upfront payment for an early-stage asset—indicate exceptional confidence in the platform and preliminary data. Multiple myeloma remains a multi-billion dollar market with significant room for improved outcomes, making this a potentially transformative addition to AbbVie's pipeline with favorable risk-reward characteristics despite the early development stage.

  • ISB 2001 is currently in Phase 1 clinical trial in patients with relapsed/refractory multiple myeloma (R/R MM)

NORTH CHICAGO, Ill. and NEW YORK, July10, 2025 /PRNewswire/ -- AbbVie (NYSE: ABBV) and IGI Therapeutics SA, a wholly owned subsidiary of New York-based Ichnos Glenmark Innovation, Inc. (IGI), today announced an exclusive licensing agreement for IGI's lead investigational asset, ISB 2001, developed using IGI's proprietary BEAT® protein platform, for oncology and autoimmune diseases.

"Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously," said Roopal Thakkar, M.D., executive vice president, research and development and chief scientific officer, AbbVie. "This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress."

"ISB 2001 exemplifies the potential of our BEAT® protein platform to generate effective multispecifics that may overcome resistance and improve outcomes in hard-to-treat cancers," said Cyril Konto, M.D., President and CEO of IGI. "This agreement marks a defining milestone in IGI's scientific journey and reflects our team's deep commitment to delivering meaningful therapies for patients. Our partnership with AbbVie accelerates ISB 2001's path to patients and sharpens our focus on advancing the next generation of BEAT®-enabled assets in oncology."

Under the terms of the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan and Greater China. Subject to regulatory clearance, IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales.

About AbbVie

AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas � immunology, oncology, neuroscience, and eye care � and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us atwww.abbvie.com. Follow @abbvie onLinkedIn,Facebook,Instagram,X (formerly Twitter), andYouTube.

AboutAbbVie in Oncology

AbbVie is committed to elevating standards of care and bringing transformative therapies to patients worldwide living with difficult-to-treat cancers. We are advancing a dynamic pipeline of investigational therapies across a range of cancer types in both blood cancers and solid tumors. We are focusing on creating targeted medicines that either impede the reproduction of cancer cells or enable their elimination. We achieve this through various, targeted treatment modalities and biology interventions, including small molecule therapeutics, antibody-drug conjugates (ADCs), immuno-oncology-based therapeutics, multispecific antibody and novel CAR-T platforms. Our dedicated and experienced team joins forces with innovative partners to accelerate the delivery of potential breakthrough medicines.

Today, our expansive oncology portfolio comprises approved and investigational treatments for a wide range of blood cancers and solid tumors. We are evaluating more than 35 investigational medicines in multiple clinical trials across some of the world's most widespread and debilitating cancers. As we work to have a remarkable impact on people's lives, we are committed to exploring solutions to help patients obtain access to our cancer medicines. For more information, please visit .

About ISB2001

ISB2001 is a first-in-class trispecific T-cell engager that targets BCMA and CD38 on myeloma cells and CD3 on T cells currently in Phase1 for relapsed/refractory multiple myeloma. Developed using IGI's proprietary BEAT®protein platform, ISB2001 was engineered with two distinct binders against myeloma-associated antigens to enhance avidity, even at low target expression levels, while aiming to improve safety over first-generation bispecific antibodies. Recently presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting as a Rapid Oral Presentation (), data from 35 patients demonstrated a sustained overall response rate (ORR) of 79% and a high complete/stringent complete response (CR/sCR) rate of 30% at active doses � 50 µg/kg in a heavily pretreated population of relapsed/refractory myeloma patients, with a favorable safety profile.

U.S. Food & Drug Administration granted ISB2001 Orphan Drug Designation in July 2023 and Fast Track Designation for the treatment of relapsed/refractory myeloma patients in May 2025.

About the BEAT® Multispecific� Platform

IGI's proprietary BEAT® platform goes beyond traditional bispecific antibody approaches, addressing key engineering bottlenecks that have historically limited large-scale bispecific production. By leveraging a proprietary common light chain library and TCR interface-based heavy chain pairing, BEAT® enables the development of next-generation immune cell engagers with strong therapeutic potential in oncology. Unlike many engineered formats, BEAT® mirrors the architecture of natural antibodies utilizing both light and heavy chains to enhance stability and function. Key attributes of the BEAT® platform include its multispecific versatility, enabling the design of antibodies that engage diverse immune cell types such as T cells, myeloid cells, and NK cells against multiple antigens. The platform also features optimized engineering through high-fidelity heavy chain pairing with a common light chain, allowing for precise Fc modulation and access to a broad structural design space. Additionally, BEAT® supports robust manufacturability, producing correctly assembled multispecific antibodies with favorable stability, extended half-lives, low immunogenicity and high titer yields through standardized process development and manufacturing operations.

About IGI

IGI is a global, fully integrated clinical-stage biotechnology company focused on developing innovative biologics in oncology. Headquartered in New York, NY, IGI is advancing a robust pipeline of novel, first-in-class multispecificsTM aimed at addressing complex diseases and treating patients holistically. Powered by its proprietary BEAT® technology platform, IGI is committed to delivering breakthrough, curative therapies to improve and extend the lives of patients battling hematological malignancies and solid tumors. For more information, visit .

AbbVie Forward-Looking Statements

Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes and tariffs, and other uncertainties and risks associated with global business operations. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2024 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

AbbVie Contacts:

Media

Sourojit (Jit) Bhowmick, Ph.D.

[email protected]


Investors

Liz Shea

[email protected]

IGI contact:

IGI Corporate Communications Team
[email protected]

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FAQ

What is the value of AbbVie's licensing agreement with IGI for ISB 2001?

The agreement includes a $700 million upfront payment and up to $1.225 billion in milestone payments, plus tiered, double-digit royalties on net sales.

What type of drug is ISB 2001 and what does it treat?

ISB 2001 is a first-in-class CD38×BCMA×CD3 trispecific antibody currently in Phase 1 clinical trials for treating relapsed/refractory multiple myeloma.

Which territories are included in AbbVie's licensing rights for ISB 2001?

AbbVie receives exclusive rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China.

What stage of development is ABBV's newly licensed drug ISB 2001?

ISB 2001 is currently in Phase 1 clinical trials for patients with relapsed/refractory multiple myeloma.

How was ISB 2001 developed and what makes it unique?

ISB 2001 was developed using IGI's proprietary BEAT® protein platform and is unique as a first-in-class trispecific antibody that engages multiple targets simultaneously.
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