On February 28, 2010, AbbVie and OSE Immunotherapeutics, an immunotherapeutics company, announced a strategic partnership to develop OSE-230, a monoclonal antibody designed to address serious chronic inflammatory diseases, which is currently in preclinical studies.

OSE-230 is a first-of-its-kind monoclonal antibody designed to activate the G protein-coupled receptor (GPCR) target ChemR23, which may provide a novel mechanism for relieving chronic inflammation by regulating macrophage and neutrophil function.

Dr. Jonathon Sedgwick, Senior Vice President and Global Head of Discovery Research at AbbVie, said: "This collaboration underscores our commitment to expanding our immunology portfolio, with the ultimate goal of raising the standard of care for patients suffering from inflammatory diseases worldwide. We look forward to applying our expertise in immunology drug development to advance the development of OSE-230.

Nicolas Poirier, Chief Executive Officer of OSE Immunotherapeutics, said: "We are pleased to partner with AbbVie, a global leader in the development and commercialization of innovative medicines, to drive the OSE-230 program forward. This partnership is an important milestone in our company's progress and recognizes the value of our innovative R&D capabilities. I would like to thank all of our employees who, through their dedication and hard work, have helped us achieve this milestone.

Under the terms of the agreement, AbbVie will receive an exclusive worldwide license to develop, manufacture and commercialize OSE-230.OSE Immunotherapeutics will receive an upfront payment of $48 million and will be eligible to receive up to an additional $665 million in clinical development, regulatory and commercial milestone payments. In addition, OSE Immunotherapeutics will be eligible to receive a potentially tiered royalty on worldwide net sales of OSE-230.

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