The agreement covers the compound BI655066, an anti-IL-23 monoclonal biologic antibody in Phase 3 development for psoriasis.
BI 655066 selectively blocks IL-23, a key protein involved in skin inflammation, linking to an overactive immune system, and is one of the important drivers of psoriasis.
It is in phase 2 development for Crohn’s disease and asthma, and is about to enter phase 2 development for psoriatic arthritis.
AbbVie will be solely responsible for selling the drug. Boehringer will retain an option to co-promote it in asthma.
Apart from the $595m, Boehringer will also get milestone payments and royalties on net sales, based on the drug’s successful development.
AbbVie executive vice president and chief scientific officer Michael Severino said: "This collaboration positions BI 655066 as AbbVie’s lead investigational compound in psoriasis, complementing our robust immunology pipeline.
"Our expertise in developing and commercializing the world’s leading biologic, combined with Boehringer Ingelheim’s clinical success to-date will enable us to offer patients a new treatment option with the potential to meaningfully improve the standard of care."
Apart from BI655066, AbbVie has also secured rights to an anti-CD-40 antibody, BI 655064, currently in phase 1 development.
Boehringer Ingelheim will retain responsibility for additional development of BI 655064, and AbbVie may elect to advance the program following the completion of several undisclosed clinical achievements.