Infinity Pharma and AbbVie ink development deal

|About: AbbVie Inc. (ABBV)|By:, SA News Editor

AbbVie (NYSE:ABBV) and Infinity Pharmaceuticals (NASDAQ:INFI) enter into a global collaboration to develop and commercialize IPI-145 (duvelisib), an oral inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma, for the treatment of patients with cancer. Duvelisib has shown clinical activity across a broad range of blood cancers.

Under the terms of the agreement, Infinity will receive an upfront payment of $275M and up to $530M in development, regulatory and commercial milestone payments. Domestically, the companies will jointly commercialize duvelisib and share profits equally. Outside of the U.S. AbbVie will be responsible to all commercialization activities and will pay Infinity royalties on net sales ranging from 23.5 - 30.5%.