Dragonfly Announces Multi-Target Expansion of Research Collaboration with AbbVie
- Apr 20, 2022
- 2 min read
Updated: Sep 2, 2022
Dragonfly and AbbVie expand their existing collaboration in oncology and autoimmune disease to develop additional drug candidates in immune-mediated diseases using Dragonfly's proprietary Tri-specific NK cell Engager Therapy (TriNKET™) platform
WALTHAM, Mass., April 20, 2022 /PRNewswire/ -- Dragonfly Therapeutics, Inc. ("Dragonfly"), a biotechnology company developing novel immunotherapies that harness the innate immune system to treat disease, today announced an expansion of its research collaboration with AbbVie (NYSE: ABBV) to discover and develop Dragonfly's novel immunotherapies for new targets in autoimmune and fibrotic diseases. AbbVie successfully licensed its first TriNKET™ drug candidate from Dragonfly, part of a multi-target collaboration initiated in November 2019, in January 2021.
"AbbVie is committed to delivering transformative treatment options for patients suffering from autoimmune and fibrotic diseases," said Dr. Jonathon Sedgwick, Vice President and Global Head of Discovery Research at AbbVie. "We have seen strong progress in our current collaboration with Dragonfly focused on their triNKET technology and are pleased to expand our partnership to include additional immunology targets of interest to AbbVie."
"AbbVie is a global leader in treating immune-mediated diseases, and they continue to be a terrific partner" said Bill Haney, co-founder and chief executive officer of Dragonfly, "we look forward to building on our successful collaboration, and rapidly progressing with the AbbVie team to advance new treatment options for patients."
Under the agreement, Dragonfly will grant AbbVie the option to license exclusive worldwide intellectual property rights to multiple new candidates developed using Dragonfly's TriNKET™ technology platform. AbbVie will pay Dragonfly an upfront payment, future success-based milestone payments and royalties.
About Dragonfly
Dragonfly Therapeutics, Inc. is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing therapies that use its novel TriNKET™ technology to harness the body's innate immune system to bring breakthrough treatments to patients.
For more information visit: www.dragonflytx.com https://www.linkedin.com/company/dragonfly-therapeutics-inc https://twitter.com/dragonflytx
DRAGONFLY MEDIA CONTACT:
Anne Deconinck | anne@dragonflytx.com
Related Links http://www.dragonflytx.com
SOURCE Dragonfly Therapeutics, Inc.
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As a reader with an interest in biomedicine, I view AbbVie’s decision to elevate its partnership with Dragonfly as a highly strategic move to expand its immuno-oncology portfolio. This collaboration is akin to a high-level game of dordle: rather than solving just a single puzzle, the parties must employ strategic thinking to decipher and conquer two complex objectives simultaneously in order to maximize success.
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Interesting to see the collaboration move beyond oncology into autoimmune and fibrotic diseases—the TriNKET platform really does seem versatile. It must be encouraging for the Dragonfly team to see AbbVie exercise that first license from the 2019 deal. By the way, I keep a free startup tool value calculator I like to share: https://growth-navigate.com/
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