AbbVie Inc. (NYSE: ABBV) and BigHat Biosciences announced a research collaboration to discover and develop next-generation therapeutic antibodies in oncology and neuroscience. Working closely with AbbVie, BigHat will utilize its Milliner™ platform, a suite of machine learning technologies integrated with a high-speed wet lab, to guide the design and selection for high quality antibodies for multiple therapeutic targets.
“This collaboration further demonstrates our commitment to integrate AI/ML-based approaches in drug discovery and development, as we strive to accelerate our oncology and neuroscience pipeline, and deliver better medicines faster,” said Jonathon Sedgwick, vice president and global head of discovery research at AbbVie. “We look forward to working with BigHat’s team to design novel antibody-based therapies that may help address persistent unmet needs faced by patients.”
“We are thrilled to collaborate with AbbVie, a global leader in driving innovation in drug development, and look forward to employing our Milliner™ platform to help design next-generation therapeutic antibodies,” said BigHat Mark DePristo. “Milliner™ allows rapid optimization of multiple key parameters including functionality and developability, to help deliver complex antibodies with improved characteristics faster.”
Under the terms of the agreement, BigHat will receive an upfront payment of $30 million and may be eligible to receive up to approximately $325 million in aggregate research and development milestones, with potential for further commercial milestones as well as tiered royalties on net sales.
ABBV shares dipped 73 cents to $143.50.