The new co-development and license agreement to research, develop, and commercialize novel dopamine receptor modulators for the potential treatment of neuropsychiatric diseases "is based on the results of preclinical research carried out by Richter and includes several new chemical entities selected for development", Richter said.
Richter noted that it has collaborated with AbbVie on central nervous system projects, including its antipsychotic cariprazine, for 15 years.
AbbVie's chief scientific officer Tom Hudson said the company will collaborate with Richter to "continue to build on our research that seeks to provide additional insights into our understanding of cariprazine's clinical pharmacology and explore novel chemistry to identify new dopamine receptor modulators".
Under the terms of the agreement, the collaboration includes both preclinical and clinical R&D activities with shared financing by the parties. Richter will receive an upfront cash payment, along with potential future development, regulatory and commercialization milestones. In addition, Richter may also receive sales-based royalties. AbbVie will have worldwide commercialization rights except in Richter's traditional markets, such as Europe, Russia, the other CIS countries, and Vietnam.
The transaction is expected to close in the second quarter of 2022, "subject to the satisfaction of customary closing conditions, including applicable regulatory approvals", Richter said.
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