EvolveImmune receives $18 million milestone payment from ABBV partnership

EvolveImmune Therapeutics announced it received an $18 million milestone payment from AbbVie (NYSE: ABBV) after nominating a development candidate for a solid tumor target under their collaboration agreement.

The milestone was triggered by the selection of a development candidate as part of the companies' collaboration and option-to-license agreement initiated in October 2024. The partnership focuses on developing multispecific biologics for multiple oncology targets using EvolveImmune's EVOLVE T cell engager platform.

The EVOLVE platform incorporates CD2 costimulation designed to enhance T-cell tumor killing capacity. The technology aims to address therapeutic challenges in solid and hematologic tumors by bypassing low tumor immunogenicity and reducing T-cell dysfunction.

"AbbVie has proven to be an exceptional partner, enabling the significant progress we have achieved to date," said Stephen Bloch, chief executive officer of EvolveImmune. "This is the first program from our collaboration to progress to candidate selection and provides optimism for the continued work we are undertaking with AbbVie against additional targets."

EvolveImmune is a clinical-stage immuno-oncology company developing multi-specific T cell engagers. The company's pipeline includes internal and partnered programs, with its most advanced program EVOLVE104 currently in clinical development.

The information is based on a company press release statement.

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