BT-061 is a humanized monoclonal antibody that works by activating the body’s T-regulatory cells, a subset of T-cells, strengthening a natural function of the body that prevents excessive immune reactions.
As per the terms of the agreement, both the companies will work together for the co-promotion of BT-061 in Germany, France, UK, Italy and Spain.
However, Abbott will be responsible to commercialize the drug in other European countries.
Biotest will be responsible for manufacturing the initial clinical supply of BT-061 and the companies will share responsibility for commercial production.
The agreement further allows Biotest to get an upfront payment of $85m to Abbott along with additional milestone payments of around $395m on achieving certain development, regulatory, commercial and sales-based milestones and royalties.