A roundup of news from AbbVie/ EvolveImmune, GSK and the UK government. Highlights below. 

Partnering News 
* AbbVie, EvolveImmune in $1.4-Bn Licensing Pact for Cancer Biotherapeutics 
Mfg News 
* UK Reveals $675 M Life Science Funding Budget 
M&A News 
* GSK To Acquire Autoimmune Disease Drug from Chimagen for $300 M 

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Partnering News 

AbbVie, EvolveImmune in $1.4-Bn Licensing Pact for Cancer Biotherapeutics 
AbbVie and EvolveImmune Therapeutics, a Branford, Connecticut-based immuno-oncology company, have formed a collaboration and option-to-license agreement to develop multi-specific biologics for multiple targets in oncology, in a deal worth up to $1.4 billion ($65 million upfront and up to $1.4-billion in milestone payments).  

The discovery partnership will use EvolveImmune’s proprietary T-cell engager platform to develop antibody-based therapies for solid and hematologic malignancies. 

Under the agreement, EvolveImmune will receive $65 million in aggregate upfront fees and an equity investment from AbbVie and is eligible for up to $1.4 billion in aggregate option fees and milestones, as well as tiered royalty payments on net sales. 

Source: EvolveImmune 

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Mfg News 

UK Reveals $675 M Life Science Funding Budget 
The UK government has launched the Life Sciences Innovative Manufacturing Fund (LSIMF), a capital grants fund, which will provide up to £520 million ($675 million) in capital grants for investment in the manufacture of human medicines and medical technology (including diagnostics, and medical technology products). 

Projects with a total cost (including capital expenditure) of at least £8 million ($10 million) are eligible to apply. Companies are required to submit an Expression of Interest with a summary of its project, which will be used to assess eligibility and can be submitted at any time while the fund is open to applications.  

Applications will undergo assessment in quarterly rounds until all the funding has been allocated as specified below:

• Round 1 opened for applications on October 30, 2024, and will close on November 29, 2024; 

• Round 2 will open on February 1, 2025, and close on February 28, 2025; 

• Round 3 will open on May 1, 2025, and close on May 30, 2025; and 

• Round 4 will open on August 1, 2025, and close on August 29, 2025. 

Subsequent application rounds will open on a quarterly basis until all the funding has been allocated. 

Source: UK Government 

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M&A News 

GSK To Acquire Autoimmune Disease Drug from Chimagen for $300 M 
GSK and Chimagen Biosciences, a Chengdu, China-based bio/pharmaceutical company, have entered an agreement for GSK to acquire Chimagen Biosciences’ CMG1A46, a drug for treating certain autoimmune diseases, for $300 million.  

GSK plans to develop and commercialize CMG1A46 with a focus on B cell-driven autoimmune diseases, such as systemic lupus erythematosus and lupus nephritis, with potential to expand into related autoimmune diseases. 

CMG1A46 is a dual CD19 and CD20-targeted T cell-engager. CD20 is a target in the treatment of autoimmune diseases, and CD19 shows promise as a differentiated therapeutic approach given its presence on more B cell types, according to information from GSK. In preclinical studies, CMG1A46, designed to target both CD19 and CD20, has B cell depletion both in the bloodstream and in tissues, which could lead to more durable responses in patients. 

CMG1A46 is currently in Phase I clinical trials in leukemia and lymphoma in both the US and China. GSK aims to begin a Phase I trial in lupus in 2025. 

Source: GSK