Chinese biotech I-Mab ( NASDAQ: IMAB ) on Tuesday said its U.S. partner AbbVie ( ABBV ) would discontinue a phase 1b study evaluating a combination treatment including its anti-CD47 antibody therapy lemzoparlimab for two types of cancers.
ABBV stock and U.S.-listed shares of IMAB were largely unchanged after hours.
The early-stage part b study was testing a combination therapy comprised of IMAB's lemzoparlimab with ABBV's venetoclax and azacitidine for the treatment of patients with myelodysplastic syndrome and acute myelocytic leukemia.
"The decision (to discontinue the trial) was not based on any specific or unexpected safety concerns," IMAB said in a U.S. SEC filing after hours.
The phase 1b study was part of a license and collaboration agreement inked between IMAB and ABBV in Sept. 2020 for the development of lemzoparlimab.
IMAB on Tuesday said that the parties would continue to collaborate on the global development of the anti-CD47 therapy and that it would be eligible to get up to $1.295B in milestone payments from ABBV.
Last week, Hong Kong-based biotech Zai Lab also said it would deprioritize its CD47 inhibitor ZL-1201 for internal development.
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AbbVie to discontinue phase 1 trial for I-Mab's anti-CD47 therapy for treatment of cancers