China-based RemeGen has granted AbbVie exclusive rights to develop and commercialise its PD1×VEGF bispecific antibody (BsAb), RC148, outside of Greater China in a deal valued at up to USD 5.6 billion. RemeGen will receive an upfront payment of USD 650 million and is eligible for up to USD 4.95 billion in development, regulatory and commercial milestone payments, plus tiered royalties in the low double-digit percentages on ex-China net sales.

RC148 is part of a competitive global field for PD-(L)1×VEGF BsAbs. The candidate has shown promising Phase I/II data in non-small cell lung cancer (NSCLC), both as a monotherapy and in combination with docetaxel, particularly in patients who have progressed on prior PD-(L)1 inhibitor therapy. Its development strategy includes combinations with ADCs, an area where RemeGen has significant expertise. The deal aligns with AbbVie's strategy to strengthen its oncology pipeline in next-generation immunotherapy, following its recent acquisitions and licensing activities in multispecific antibodies and ADCs.

PharmCube's NextBiopharm® database shows that this is the third-largest deal in the PD1×VEGF BsAb space, which is dominated by China. Click here to request a free trial for NextBiopharm®.