(RTTNews) - AbbVie (ABBV) and Gedeon Richter Plc. have collaborated to research, develop and commercialize novel dopamine receptor modulators for the potential treatment of neuropsychiatric diseases, AbbVie said in a statement.
The collaboration is based on the results of preclinical research carried out by Richter and includes several new chemical entities selected for development.
AbbVie and Richter have collaborated for 15 years on Central Nervous System projects, including globally launched products such as cariprazine.
As per the terms of the deal, the collaboration includes both preclinical and clinical R&D activities with shared financing by the parties. Richter will receive an upfront cash payment, along with potential future development, regulatory and commercialization milestones.
In addition, Richter may also receive sales-based royalties. AbbVie will have worldwide commercialization rights except for traditional markets of Richter, such as geographic Europe, Russia, other CIS countries and Vietnam.
The transaction is expected to close in the second quarter of 2022.
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