AbbVie allies with Alvine to develop celiac disease drug

05/15/2013 | Genetic Engineering & Biotechnology News

AbbVie agreed to pay $70 million upfront in exchange for an exclusive option to either acquire Alvine Pharmaceuticals' experimental celiac disease drug ALV003, or the equity of the firm, following the completion of a midstage trial. ALV003 was granted fast-track status by the FDA last year as a potential treatment for celiac disease. If AbbVie exercises its option, Alvine will be eligible to receive milestone fees when the drug enters late-stage development.

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