The Company announced today that AbbVie has delivered the termination notice of the parties’ license and collaboration agreement (the “Agreement”) for the global development and commercialization of SHP2 inhibitors licensed by Jacobio to AbbVie under the Agreement, as part of AbbVie’s overall strategic decisions on its portfolio priorities. Following the termination of the Agreement, Jacobio will regain the global rights previously granted to AbbVie to such SHP2 inhibitors, including decision-making authority over all development, commercialization, manufacturing, regulatory activities relating to SHP2 inhibitors globally. Jacobio will also have the rights to book sales for such SHP2 inhibitors on a global basis. Both parties will collaborate to orderly transition the responsibilities under the Agreement for a period no longer than 180 days. During the transitional period, AbbVie will continue to reimburse all cost under the pre-approved development plan.
