AbbVie Inc. (NYSE: ABBV) confirmed that it has inked a new co-development and license agreement with Gedeon Richter Plc. ('Richter') to research, develop, and market novel dopamine receptor modulators for the possible cure of neuropsychiatric diseases. AbbVie and Richter have partnered for 15 years on Central Nervous System (CNS) projects, including globally introduced products such as cariprazine.
The agreement specifies that the partnership will involve both preclinical and clinical R&D operations, with the parties sharing the costs. Richter will get a monetary payment upfront, as well as potential research, regulatory, and marketing objectives in the future. Richter may also be eligible for royalties based on sales. Except for Richter's core markets, such as continental Europe, Russia, other CIS nations, and Vietnam, AbbVie will have global marketing rights.
The partnership is based on Richter's preclinical research and comprises many new chemical entities that have been chosen for development. AbbVie is dedicated to advancing science and coming up with solutions for patients suffering from severe neuropsychiatric disorders. ABBV will continue to collaborate with Richter on research that aims to contribute to its knowledge of cariprazine's clinical pharmacology and study novel chemistry in the search for new dopamine receptor modulators.
Besides that, Richter believes that its current partnership with AbbVie will pave the way for new products that will help mitigate the devastating psychiatric and cognitive signs of many neuropsychiatric disorders, resulting in a better quality of life for patients afflicted with these disorders all over the world. The transaction is likely to close in the Q2 of 2022 after the regulatory authorizations.