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news.Receptos has entered into a development license and option agreement to in-license a humanized anti-interleukin-13 (IL-13) antibody asset RPC4046 from AbbVie.
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As per the agreement, Receptos will lead a Phase 2 clinical study to demonstrate proof-of-concept in Eosinophilic Esophagitis (EoE), an indication designated as an Orphan Disease by the US FDA.
AbbVie holds an exclusive option to enter into a global co-development collaboration for RPC4046 with Receptos following results of the planned Phase II study and regulatory discussions with the FDA.
Receptos president and chief executive officer Faheem Hasnain said AbbVie has developed a promising Phase 2-ready therapeutic candidate to the company’s development team, which aims to pursue proof-of-concept in EoE, an Orphan Disease growing in prevalence for which there are no approved treatment options.
"We believe that AbbVie’s exceptional track record in immunology will be a strong asset in this collaboration," Hasnain added.
After the completion of the co-development option, both the firms will enter into a collaboration agreement in which the parties would equally share costs of the Phase 3 clinical program and future development on a global basis.
Receptos will hold a right to co-promote RPC4046 and share equally in profits in the US.
AbbVie will also hold sole commercial rights for the drug apart from the US and Receptos will be eligible for double digit royalties on net sales.