Healthcare Industry News: AbbVie
News Release - June 26, 2018
AbbVie and Calico Announce Extension of Groundbreaking CollaborationExtension builds on collaboration established in 2014
Collaboration focuses on aging and age-related diseases, including neurodegeneration and cancer
NORTH CHICAGO, Ill. and SOUTH SAN FRANCISCO, Calif., June 26, 2018 -- (Healthcare Sales & Marketing Network) -- AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, and Calico, a company focused on aging research and therapeutics, today announced an extension of their collaboration to discover, develop and bring to market new therapies for patients with age-related diseases, including neurodegeneration and cancer.
Calico is the Alphabet-backed life sciences company that is led by former Genentech chairman and CEO Arthur D. Levinson, Ph.D. With more than 150 employees, Calico has established a world-class research and development facility in the San Francisco Bay Area.
Working together with AbbVie, Calico pursues discovery-stage research and development. AbbVie provides scientific and clinical development support and will lend its commercial expertise to lead future development and commercialization activities. Since 2014, the collaboration between the two companies has produced more than two dozen early-stage programs addressing disease states across oncology and neuroscience and yielded new insights into the biology of aging.
"We've built a successful collaboration – both scientifically and culturally – that is advancing cutting-edge science," said Michael Severino, M.D., executive vice president, research and development, chief scientific officer, AbbVie. "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."
"Our collaboration with AbbVie has fully met our high expectations," said Dr. Levinson. "Our initial agreement created a unique partnership and this extension will accelerate further our efforts to understand the science of aging to advance novel therapies for patients."
Under the terms of the agreement, the collaboration between the two companies is now extended 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. AbbVie will continue to support Calico in its early R&D efforts and, following completion of Phase 2a studies, will have the option to manage late-stage development and commercial activities. Both parties will share costs and profits equally. AbbVie and Calico will each commit to contribute an additional $500 million to the collaboration.
AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world's most complex and critical conditions. The company's mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.AbbVie.com. Follow @AbbVie on Twitter, Facebook or LinkedIn.
AbbVie Forward-Looking Statements
Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2017 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
Calico (Calico Life Sciences LLC) is an Alphabet-funded research and development company whose mission is to harness advanced technologies to increase our understanding of the biology that controls lifespan. Calico will use that knowledge to devise interventions that enable people to lead longer and healthier lives. To learn more about Calico, visit www.calicolabs.com.
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