Medincell shares surged on the Paris Bourse on Wednesday morning, following the signature of a strategic agreement with AbbVie, the American company known for its flagship rheumatoid arthritis drug Humira.

At 10:40 a.m., the biopharmaceutical company's shares were up more than 7% in heavy trading, already representing 14 times the average volume achieved by the stock over the last four sessions on Euronext.

By way of comparison, the CAC Mid & Small index gained just 0.8% over the same period.

Under the terms of the agreement, Medincell could receive up to $1.9 billion in milestone payments, not including royalties on any future sales resulting from the collaboration.

The two groups plan to co-develop and commercialize up to six products based on Medincell's platform for the injection of long-acting therapies.

As a reminder, the first drug based on its technology, intended for the treatment of schizophrenia, was approved by the FDA in 2023 and is now distributed in the US by Israeli company Teva.

Under the agreement unveiled today, Medincell will receive an upfront payment of $35 million.

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