AbbVie and Gedeon Richter Announce New Collaboration

The pharma companies AbbVie (headquartered in North Chicago, Illinois in the United States) and Gedeon Richter Plc. (headquartered in Budapest, Hungary) have announced a new discovery, co-development and license agreement to advance novel targets for the potential treatment of neuropsychiatric conditions.

A statement on the website of the Budapest Stock Exchange highlights that this collaboration expands upon the success of nearly two decades of partnership on central nervous system (CNS) projects, including globally launched products such as cariprazine (VRAYLAR/REAGILA) and the discovery of investigational drug candidate ABBV-932 for the treatment of bipolar depression and generalized anxiety disorder.

“There remains a large unmet need for people living with neuropsychiatric disorders, making it imperative that we continue to innovate and pursue novel targets and approaches to discover and develop new therapies,” Jonathon Sedgwick, Ph.D., senior vice president and global head of discovery research at AbbVie said. “We are excited to expand our longstanding and successful partnership with Richter to help address the complex needs of these patients,” he added.

The chief executive officer of Gedeon Richter, Gábor Orbán, stated that “this new agreement builds on years of successful partnership allowing Richter to further support AbbVie’s global ambition in neuropsychiatry and validates the quality of science behind our unique discovery platform.”

Under the terms of the agreement, the collaboration includes both preclinical and clinical R&D activities with shared financing by the parties. Richter will receive an upfront cash payment of USD 25 million, along with potential future development, regulatory and commercialization milestones. In addition, Richter may also receive sales-based royalties. AbbVie will have worldwide commercialization rights except for traditional markets of Richter, such as geographic Europe, Russia, other CIS countries and Vietnam.