(RTTNews) - Lake Bluff-based biopharmaceutical company AbbVie (ABBV) has joined hands with Rockville-headquartered REGENXBIO Inc. (RGNX), a clinical-stage biotechnology firm to develop and sell RGX-314, an eye-care therapy, the companies said in a statement on Monday.
RGX-314 is a potential one-time gene therapy for the treatment of wet age-related macular degeneration (wet AMD), diabetic retinopathy (DR), and other chronic retinal diseases.
REGENXBIO and AbbVie will share equally in profits from net sales of RGX-314 in the U.S. AbbVie will pay REGENXBIO a $370 million upfront payment with the potential for REGENXBIO to receive up to $1.38 billion in additional development.
The deal is expected to conclude by end of this year.
REGENXBIO will lead the manufacturing of RGX-314 for clinical development and U.S. commercial supply, and AbbVie will lead the manufacturing of RGX-314 for commercial supply outside the U.S.
Under the collaboration, REGENXBIO will be responsible for the completion of the ongoing trials of RGX-314. AbbVie and REGENXBIO will collaborate and share costs on additional trials of RGX-314, including the planned second pivotal trial evaluating subretinal delivery for the treatment of wet AMD and future trials.
AbbVie will lead the clinical development and commercialization of RGX-314 globally. REGENXBIO shall participate in U.S. commercialization efforts.
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