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Abbott, Pierre Fabre Ink Licensing Deal for Cancer Treatment

From M2 Europharma (February 2, 2010)

2 February 2010 - US Abbott Laboratories (NYSE: ABT) said yesterday it has inked an exclusive worldwide licensing agreement with French Pierre Fabre SA to develop and commercialise h224G11, a pre-clinical monoclonal antibody targeting the cMet receptor for the treatment of cancer.

The monoclonal antibody was identified at the Centre d’Immunologie Pierre Fabre (CIPF) in France.

cMet protein plays a role in the progression of a range of solid tumours including, prostate, lung and gastric cancers and mediates resistance to chemotherapy.

As part of the agreement, the companies also intend to collaborate on research to explore next-generation cMet antibodies.

H224G11 works by specifically binding to cMet protein and interrupting the signalling pathway, which leads to cancer cell death and the prevention of tumour growth. The antibody also inhibits cancer cell migration and angiogenesis.

Under the terms of the collaboration and license agreement, Abbott will lead the development and commercialisation of monoclonal antibodies targeting the cMet receptor. Pierre Fabre will receive an initial USD25m (EUR17.9m) upfront payment and research funding to support further discovery efforts for two years. Additional terms of the agreement, including milestones and royalty payments, were not disclosed.

(USD1 = EUR0.717)

Posted: February 2010