money_istock-504240346_jansucko
jansucko / iStockphoto.com
27 June 2018Americas

AbbVie and Alphabet company commit $1bn to collaboration

AbbVie and Alphabet have committed a further $1 billion to fund Alphabet-backed Calico’s development of new therapies for patients with age-related diseases.

Based in San Francisco, Calico is led by former Genentech chairman and CEO Arthur Levinson and focuses on research and therapeutics into age-related diseases.

AbbVie and Alphabet first began collaborating in 2014 and have produced more than two dozen early-stage programmes. At the time, the companies invested $1.5 billion.

Announced yesterday, June 26, the extension will see AbbVie and Alphabet contribute an additional $500 million each and the collaboration will continue for an additional three years.

Calico will be responsible for research and early development until 2022 and will advance collaboration projects through Phase 2a through 2027.

Michael Severino, executive vice president of research and development and chief scientific officer at AbbVie, said: “Calico has attracted an outstanding team of world-class scientists and the extension of this collaboration allows us to further build on the research we’ve done to identify transformative treatment options for patients with age-related diseases.”

Levinson added that the collaboration has fully met Calico’s expectations.

He added: “Our initial agreement created a unique partnership and this extension will accelerate further our efforts to understand the science of ageing to advance novel therapies for patients.”

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories sent like this straight to your inbox.


More on this story

Americas
18 July 2018   US-based biopharmaceutical company AbbVie entered into a patent licensing agreement with generics company Mylan yesterday.
Big Pharma
23 February 2021   AbbVie and its Korean partner Medytox have settled a trade secret dispute with competitor Evolus over the sale of a rival botox competitor drug Jeuveau.
Americas
6 April 2021   Pharmaceutical companies defending an antitrust lawsuit have fought back against attempts to get them to disclose confidential information garnered through discovery during the litigation to the US Federal Trade Commission.

More on this story

Americas
18 July 2018   US-based biopharmaceutical company AbbVie entered into a patent licensing agreement with generics company Mylan yesterday.
Big Pharma
23 February 2021   AbbVie and its Korean partner Medytox have settled a trade secret dispute with competitor Evolus over the sale of a rival botox competitor drug Jeuveau.
Americas
6 April 2021   Pharmaceutical companies defending an antitrust lawsuit have fought back against attempts to get them to disclose confidential information garnered through discovery during the litigation to the US Federal Trade Commission.