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Alpine immune sciences (NASDAQ:ALPN) said it amended its 2020 option and license agreement with AbbVie (ABBV) for acazicolcept and will early stop a Phase 2 study of the drug to allow for early evaluation of the data.
Alpine It said enrollment for the study will be suspended within 30 days, with a final analysis expected by the end of 2024. The study had been evaluating acazicolcept in the treatment of systemic lupus erythematosus.
Under the amended agreement, AbbVie retains the option to obtain an exclusive worldwide license to develop acazicolcept, which can be exercised at any time and expires 90 days after delivery of an agreed-upon data package on the drug to AbbVie.
The amended agreement also reduces the option exercise fee to $10 million from $75 million and eliminates the remaining pre-option development milestone. Future milestones and sales-based royalties have been reduced by 25%. Alpine added that it had received $105 million in non-refundable upfront payments and milestone payments to date under the deal.
The company said it plans to focus its development resources on advancing povetacicept.
