AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company has collaborated with Scripps Research, an international company involved in non-profit biomedical research and drug discovery.

It was reported yesterday that the collaboration is aimed at developing new therapies for a range of diseases, including in the therapeutic areas of oncology, immunology, neurology and fibrosis.

In addition to programs initially named in the collaboration from preclinical to IND stages of development, Scripps Research will present to AbbVie a certain number of preclinical programs of mutual interest per annum for consideration to be included in the collaboration. Both firms will also work together in parallel to advance CD3 bi-specifics against oncology targets nominated by AbbVie. According to the terms of the license agreement, Scripps Research will continue to conduct pre-clinical research and development activities and in some cases, Phase one clinical trials with AbbVie having an exclusive option to further develop and commercialise.

Should AbbVie exercise its option to a given program, Scripps Research is eligible to receive additional payments from AbbVie, including option exercise fees, success-based development and commercial milestone payments, as well as tiered royalties. AbbVie will make an undisclosed upfront payment, as well as a near-term milestone payment upon achievement of certain success criteria.