AlenCiken

Option and License Agreement

NASDAQ:ALPN   Alpine Immune Sciences, Inc
Alpine Immune Sciences and AbbVie Announce Option and License Agreement for the Development and Commercialization of ALPN-101

Alpine Immune Sciences grants AbbVie option to license worldwide rights to ALPN-101, a phase 2-ready, first-in-class dual CD28/ICOS costimulation antagonist, building on AbbVie’s commitment to developing novel therapies in Immunology

Alpine Immune Sciences to receive $60 million in an upfront cash payment; eligible to receive up to $805 million for exercise of the option and success-based development, regulatory and commercial milestones

"We are very pleased to partner ALPN-101 with AbbVie , a world leader in the development and commercialization of innovative immunology therapies,"

"AbbVie’s expertise in Immunology has led to remarkable breakthroughs in the treatment of autoimmune diseases,"

https://finance.yahoo.com/news/alpine-im...

FINANCIALS:

Alpine had ended March quarter with $36.1 million in cash, cash equivalents, restricted cash, and short-term investments, which was estimated to fund the company’s operations for at least the next 12 months. The deal significantly boosts its cash position and also createsa potential for future payments. This will help the company to continue development of all pipeline candidates smoothly.

However, following the exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities for the candidate.

Alpine believes AbbVie to be a worthy partner for developing ALPN-101 as AbbVie has long-standing success in the field of autoimmune and inflammatory disorders. The company’s expertise has made Humira one of the most successful drugs in the history, generating tens of billions of dollars annually.

https://finance.yahoo.com/news/alpine-sk...

https://www.reuters.com/article/brief-al...

https://www.benzinga.com/general/biotech...

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