AbbVie and Calico, pharma partner, announced a collaboration agreement, which will include an R&D facility in the San Francisco Bay area.
AbbVie is a research-based specialty biopharmaceutical company with a major portfolio of drugs in the areas of immunology and virology.
Calico will establish an R&D facility that focuses on drug discovery and early drug development.
AbbVie will work on scientific and clinical development support as well as commercialization expertise and infrastructure.
Both companies will each pony up $250 million initially, with both companies possibly tossing an additional $500 million into the collaboration.
During the first five years, Calico will handle R&D and advance projects through phase 2a for a ten-year period.
AbbVie will support early R&D, and after completion of phase 2a studies, will have the opportunity to manage late-stage development and commercialization.
Both companies will split costs and profits equally.
For further deal information visit Current Agreements (subscription required)
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