OSE Immunotherapeutics announced on Wednesday the entry into force of its worldwide licensing agreement with AbbVie, aimed at developing a monoclonal antibody for the treatment of chronic inflammation.

The immunotherapy company explains that the review period provided for under the US Hart-Scott-Rodino Act has now expired, paving the way for the transaction.

In February, OSE granted AbbVie an exclusive worldwide license to develop its OSE-230, a pre-clinical monoclonal antibody designed to resolve chronic and severe inflammation.

Under the terms of the agreement, the French company will receive an upfront payment of $48 million, plus up to an additional $665 million in development, regulatory, commercialization and royalty milestones.

On the Paris Bourse, OSE Immunotherapeutics shares rose by 3% following this announcement. The stock has gained over 11% since the beginning of the year.

Copyright (c) 2024 CercleFinance.com. All rights reserved.