AbbVie and OSE Immunotherapeutics announced a strategic amendment to their February 28, 2024 partnership on December 8, 2025. The new agreement gives OSE full control of pre‑clinical and Phase 1 work on the monoclonal antibody ABBV‑230, while AbbVie keeps the option to take over development and commercialization once the program passes Phase 1.
Under the revised terms, OSE will shoulder the financial burden of early‑stage development and forgo the milestone payment that was originally scheduled at the start of Phase 1. The milestone payment, which had been a key incentive for OSE, is now contingent on AbbVie exercising its option to advance the asset beyond Phase 1. The overall deal value remains unchanged at approximately $713 million, with AbbVie retaining the exclusive global license to develop, manufacture, and market the antibody.
OSE’s cash position at the end of the first half of 2025 was €25.4 million (about $29.6 million). The company has indicated that funding for the early‑stage work will be secured through additional capital or a financing arrangement, and that the ability to meet the new financial obligations will be monitored closely. CEO Marc Le Bozec said, “Assuming leadership of early‑stage development enables OSE to accelerate progress on this innovative program while leveraging our core immunology expertise. The restructured agreement reflects the value we’ve built and our shared commitment to advancing transformative therapies for chronic inflammatory diseases.”
AbbVie’s senior vice president of discovery research, Jonathon Sedgwick, emphasized that the shift allows the company to focus resources on later‑stage development and regulatory strategy. “This collaboration underscores our commitment to expanding our immunology portfolio with the ultimate goal of improving the standard of care for patients living with inflammatory diseases globally,” Sedgwick said. By retaining the option to take over the program after Phase 1, AbbVie preserves upside potential while reducing early‑stage risk exposure.
ABBV‑230 is a first‑in‑class antibody that activates ChemR23, a G‑protein coupled receptor on myeloid cells, to resolve chronic inflammation. Unlike most anti‑inflammatory agents that block pro‑inflammatory pathways, ABBV‑230 aims to restore tissue homeostasis by modulating macrophage and neutrophil function. The program could compete with existing biologics such as TNF‑α inhibitors and IL‑6 blockers, but its unique mechanism may offer a differentiated therapeutic profile for chronic and severe inflammatory conditions.
Investors reacted negatively to the amendment, citing concerns over OSE’s increased financial exposure and the loss of an immediate milestone payment. The shift places a heavier burden on OSE’s cash‑constrained balance sheet, while AbbVie’s modest market reaction reflects confidence that the partnership realignment will streamline its pipeline and preserve long‑term commercial upside.
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