• Global license and collaboration agreement set to advance the development of OSE-230, a monoclonal antibody aimed at resolving chronic inflammation.

• OSE Immunotherapeutics poised to receive an upfront payment of $48 million, with potential for up to an additional $665 million in milestone payments.

This monoclonal antibody, currently in the pre-clinical phase, is engineered to activate ChemR23, a G-Protein Coupled Receptor (GPCR) target, embodying a first-in-class approach to chronic and severe inflammation resolution.

OSE-230’s mechanism focuses on the activation of ChemR23, which could significantly shift the landscape of chronic inflammation treatment by modulating macrophage and neutrophil functions. This innovative strategy heralds a new dawn in the quest for resolving inflammation at its root.

Jonathon Sedgwick, Ph.D., Senior Vice President and Global Head of Discovery Research at AbbVie, emphasized the partnership's alignment with AbbVie's mission to enrich its immunology portfolio, stating, "This collaboration underscores our commitment to expanding our immunology portfolio with the ultimate goal of improving the standard of care for patients living with inflammatory diseases globally. We are excited to leverage our deep expertise in immunology drug development to advance OSE-230, which offers a novel mechanism-of-action to treat chronic inflammation."

Expressing enthusiasm over the collaboration, Nicolas Poirier, Chief Executive Officer of OSE Immunotherapeutics, highlighted the partnership as a pivotal milestone for the company, underscoring the recognition of its innovative R&D capabilities. Poirier extended gratitude towards the OSE team for their relentless dedication and effort in achieving this significant milestone.

Under the collaborative agreement, AbbVie secures an exclusive global license to develop, manufacture, and commercialize OSE-230. In return, OSE Immunotherapeutics is set to receive a $48 million upfront payment, with the prospect of garnering up to an additional $665 million across various clinical development, regulatory, and commercial milestones. Furthermore, OSE Immunotherapeutics stands to gain potential tiered royalties on global net sales of OSE-230.

This partnership and the ensuing development of OSE-230 await the fulfillment of customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, marking a significant leap forward in the treatment of chronic inflammation.