ALPN - Alpine amends acazicolcept deal with AbbVie ends Phase 2 study early

2023-12-21 17:21:38 ET

Alpine Immune Sciences ( NASDAQ: ALPN ) said it has amended its 2020 option and license agreement with AbbVie ( ABBV ) for acazicolcept and will be stopping a Phase 2 study for the drug early to allow for early assessment of the data.

Alpine said enrollment for the study will be stopped within 30 days, with a final analysis expected to occur by the end of 2024. The study had been evaluating acazicolcept in the treatment of systemic lupus erythematosus.

Under the amended agreement, AbbVie retains an option to obtain an exclusive worldwide license to develop acazicolcept, which is exercisable at any time and expires 90 days after delivery of an agreed upon data package on the drug to AbbVie.

The amended agreement also reduces the option exercise fee to $10M from $75M, removes the remaining pre-option development milestone. Future milestones and sales-based royalties have been lowered by 25%. Alpine added it had received $105M in non-refundable upfront and milestone payments to date under the agreement.

The company said that it plans to focus its development resources to advance povetacicept.

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