OSE: licensing agreement with AbbVie enters into force
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.
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