Sparks - OSE Immunotherapeutics

OSE Immunotherapeutics has announced an amendment to its partnership with AbbVie, for the development of ABBV-230, which is designed to address chronic and severe inflammation. Under the revised agreement, OSE regains control of ABBV-230 for its early development, meaning OSE will now assume responsibility for the remaining preclinical work, alongside Phase I. These activities will be subject to OSE securing adequate funding, at the company’s sole discretion. AbbVie, as the exclusive licensee, maintains its right to control subsequent development and commercialisation efforts following the completion of Phase I. We note that OSE will no longer receive the previously expected milestone payment associated with initiation of Phase I, but the company will still be eligible for milestone payments in the subsequent stages of development. All other commercial terms (including royalties on global net sales and sales-based milestone payments) remain unchanged and in line with the original agreement.