Hungarian Gedeon Richter signs new collaboration with US AbbVie

Hungarian pharmaceutical company Gedeon Richter and US peer AbbVie on Thursday announced a new collaboration for the discovery and development of novel targets for neuropsychiatric conditions.

The collaboration expands on the success of nearly two decades of partnership on central nervous system products, such as cariprazine and the discovery of investigational drug candidate ABBV-932 for the treatment of bipolar depression and generalised anxiety disorder.

Under the terms of the agreement, the collaboration includes both preclinical and clinical R+D activities with shared financing by the parties. Richter will receive an upfront cash payment of USD 25m, along with potential future development, regulatory and commercialisation milestones. Richter may also receive sales-based royalties. AbbVie will have worldwide commercialisation rights except for the traditional markets of Richter, including Europe, Russia, other CIS countries and Vietnam.

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