AbbVie licenses IGI’s multiple myeloma treatment in $1.9 billion deal

NORTH CHICAGO/NEW YORK - AbbVie (NYSE:ABBV), a prominent $337 billion market cap biotechnology company with a strong InvestingPro financial health rating, and IGI Therapeutics announced Thursday an exclusive licensing agreement for ISB 2001, a trispecific antibody currently in Phase 1 clinical trials for relapsed/refractory multiple myeloma.

Under the agreement, AbbVie will pay IGI $700 million upfront and up to $1.225 billion in potential milestone payments, plus tiered double-digit royalties on net sales. AbbVie gains exclusive rights to develop, manufacture, and commercialize the treatment across North America, Europe, Japan, and Greater China. The deal adds to AbbVie’s robust operations, which generated $57.4 billion in revenue over the last twelve months with an impressive 71% gross profit margin.

ISB 2001 is a first-in-class trispecific T-cell engager targeting both BCMA and CD38 on myeloma cells and CD3 on T cells. The therapy was developed using IGI’s proprietary BEAT protein platform.

Recent clinical data presented at the 2025 American Society of Clinical Oncology Annual Meeting showed a 79% overall response rate and 30% complete/stringent complete response rate at active doses in heavily pretreated patients, according to the press release.

The U.S. Food and Drug Administration granted ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation in May 2025.

"Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously," said Roopal Thakkar, executive vice president and chief scientific officer at AbbVie.

Cyril Konto, President and CEO of IGI, stated the agreement "marks a defining milestone in IGI’s scientific journey" and would accelerate ISB 2001’s path to patients.

IGI Therapeutics is a wholly owned subsidiary of New York-based Ichnos Glenmark Innovation, Inc., focused on developing innovative biologics in oncology. AbbVie, currently rated as a Buy by analysts with an average consensus rating of 1.96, offers investors a 3.44% dividend yield. For detailed analysis and 12 additional exclusive insights about AbbVie, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, AbbVie Inc. announced its updated earnings guidance for 2025, which now includes an $823 million expense related to acquired in-process research and development (IPR&D). This adjustment is expected to negatively impact the company’s earnings per share by $0.42 for both GAAP and non-GAAP measures. Additionally, AbbVie has entered into a definitive agreement to acquire Capstan Therapeutics for up to $2.1 billion in cash. This acquisition will provide AbbVie with Capstan’s lead asset, CPTX2309, and its proprietary technology for RNA delivery, potentially enhancing its immunology portfolio. Morgan Stanley has reiterated an Overweight rating on AbbVie, citing the acquisition as a positive step for the company’s pipeline. Furthermore, Allergan Aesthetics, an AbbVie company, has received FDA acceptance for its application to expand the use of SKINVIVE by JUVEDERM to treat neck lines. Lastly, AbbVie declared a quarterly dividend of $1.64 per share, continuing its tradition of increasing dividends since its formation.

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