Jacobio Pharmaceuticals (1167.HK), a China-based clinical stage biotech company, announced on Thursday that it has dosed the first two patients in the Phase 1/2a clinical trial of SHP2 inhibitor JAB-3312 in combination with PD-1 antibody Pembrolizumab and MEK inhibitor Binimetinib respectively.
This development triggered a USD20m milestone payment from AbbVie. It is the first milestone payment following the initial upfront fee of USD45m at the outset of Jacobio and AbbVie's collaboration.
Both firms signed a licensing agreement in May 2020 to develop and commercialise SHP2 inhibitors, including JAB-3068 and JAB-3312, on a worldwide basis. SHP2 inhibitors (JAB-3068 and JAB-3312) are Jacobio's innovative, in-house, small molecule anti-cancer drug candidates, which are being investigated in clinical trials as either monotherapy or in combination therapy at more than 30 sites globally.
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