US-based pharmaceutical firm AbbVie has teamed up with Danish biotechnology company Gubra to develop GUB014295, a long-acting amylin analogue intended to treat obesity.
Under the terms of the license agreement, AbbVie will assume responsibility for the global development and commercialisation of GUB014295.
Gubra will receive an upfront payment of $350m and is eligible to receive up to $1.875bn in milestone payments, in addition to tiered royalties on global net sales.
The transaction is pending regulatory approvals and customary closing conditions.
AbbVie CEO Robert Michael said: “At AbbVie, we are focused on transforming the future of patient care in areas where significant unmet need persists.
“Our partnership with Gubra marks our entry into the obesity field, offering a compelling opportunity based on the potential to address patient needs while also fostering long-term growth for our company.”
GUB014295 is currently undergoing a Phase 1 clinical trial, and functions as an agonist that activates amylin and calcitonin receptors.
Amylin is a satiety hormone, targeted for its role in appetite suppression and reduction of food intake, as well as delaying gastric emptying.
The Phase 1 study is a two-part, single-centre, double-blind, randomised, placebo-controlled study, with Part 1 already completed, and Part 2 is ongoing.
Morgan Stanley & Co. International served as the exclusive financial advisor to Gubra, and Goodwin Procter and Plesner Advokatpartnerselskab as legal advisor.
Gubra CEO Henrik Blou said: “We are excited to partner with AbbVie given its strong capabilities in both the development and commercialisation of life-changing medicines.
“This collaboration between Gubra and AbbVie will accelerate the development of GUB014295 and build on the promising data shown in its Phase 1 single ascending dose (SAD) trial.
“Our team has been extremely impressed with AbbVie and their commitment to bring this important partnership to life. We look forward to working together throughout the development of the GUB014295 program.”
