OSE Immuno - Landmark deal in chronic inflammation with AbbVie
*OSE Immuno announced a strategic partnership with AbbVie for the development of a novel monoclonal antibody (OSE-230) for the treatment of chronic inflammation.*Under the terms of the agreements, OSE Immuno is entitled to receive USD 48m upfront payment and up to USD 665m in milestones on top of tiered royalties on net sales.*This licensing agreement underlines the therapeutic potential of OSE-230 and provides significant financial relief but question on use of proceeds remains. We expect OSE to allocate the funds to the confirmatory Ph3 trial with Tedopi but we will gain more insight on this matter during today's call atOse Immunotherapeutics SA, formerly Orphan Synergy Europe Pharma SA, is a France-based company principally engaged in the clinical stage biotechnological sector. The Company develops immunotherapy products against invasive or metastatic late-stage cancers. The Company offers a technology, called Memopi, which helps the immune system to eliminate malignant cells; it re-educates the body's immunological memory so that the immune system (and particularly T cytotoxic cells) attacks tumor cells by increasing the patient's specific cytotoxic T response against their cancer. The Company's main product, Texopi, is a patented combination of ten epitopes, selected and optimized from five tumor associated antigens.
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