AbbVie collaborates with Alvine Pharmaceuticals to develop treatment for celiac disease
Clients AbbVie Inc.
Jones Day advised AbbVie Inc. in connection with a collaboration with Alvine Pharmaceuticals for the development of a treatment for patients with celiac disease. As part of the collaboration, AbbVie made a $70 million payment to Alvine to secure an exclusive option to acquire, at AbbVie's election, either the assets relating to the program or the outstanding equity of Alvine, in either case following the completion of an ongoing Phase 2b clinical study. If AbbVie exercises its option, AbbVie will also agree to pay a milestone payment to Alvine once an Phase 3 study is initiated with respect to the program.