Breaking Down the Deal
The licensing agreement includes:
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An upfront payment of $700 million from AbbVie to IGI
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Up to $1.225 billion in milestone-based payments covering development, regulatory approvals, and commercialization triggers
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“Double-digit” royalties on net product sales
AbbVie now holds exclusive development and commercialization rights for ISB 2001 across North America, Europe, Japan, and Greater China, dramatically expanding its immuno-oncology portfolio with a single, strategic strike.
IGI’s Moment of Validation
For IGI Therapeutics, the agreement marks a watershed moment.
“ISB 2001 showcases the strength of our BEAT platform,” said Cyril Konto, CEO and President of IGI. “This partnership is not just a commercial milestone but a scientific validation of our team’s relentless pursuit of better treatments for complex cancers.”
The drug’s architecture features two distinct antigen binders specifically tailored for myeloma-associated markers, a design intended to boost binding strength (avidity) and improve safety profiles compared to earlier-generation bispecifics.
