RE: Gas mark 1.6๐๐ฏ14 Jul 2025 09:24
Solvonis Therapeutics plc Congratulates Chair Dennis Purcell on $1.9B IGIโAbbVie Deal
Congratulations to our Chair, Dennis Purcell, on the announcement of a landmark $1.9 billion global licensing deal between IGI (Ichnos Glenmark Innovation) and AbbVie.
Under the terms of the agreement, AbbVie has secured exclusive rights to ISB 2001, a first-in-class CD38รBCMAรCD3 trispecific antibody, across North America, Europe, Japan, and Greater China.
Deal highlights:
๐ฐ $700 million upfront payment
๐ Up to $1.225 billion in development, regulatory, and commercial milestones
๐ Tiered, double-digit royalties on future net sales
Dennis Purcell serves as a Non-Executive Director at IGI and brings unmatched experience in scaling breakthrough science across global markets. This deal is further testament to the calibre of strategic leadership Dennis brings to the sector โ and to Solvonis Therapeutics plc.
We're proud to have him lead our Board as we advance our differentiated pipeline of repurposed and novel compounds targeting high-burden neuropsychiatric conditions with significant unmet need.