Dong-A ST Co., Ltd. has entered into license agreement with AbbVie Inc. for the global development and commercialization of its investigational immuno-oncology drug Mer tyrosine kinase inhibitor (Mer TKI). Under the terms of the multi-year agreement, Dong-A ST will receive $40 million upfront. It is eligible to receive $485 million if certain development, regulatory and commercial milestones are met and royalties of up to 10% on Mer TKI sales. Upon the completion of the pre-clinical study to be jointly led by the two companies, AbbVie will be responsible for global development and regulatory filings. AbbVie will get global marketing rights for the product after development, while Dong-A ST will hold marketing rights in Korea.