AbbVie licenses IGI’s trispecific antibody for cancer treatment

NEW YORK/NORTH CHICAGO - AbbVie (NYSE:ABBV), a $344.5 billion market cap biotechnology giant with annual revenues exceeding $57 billion, and IGI Therapeutics announced Thursday an exclusive licensing agreement for IGI’s investigational cancer therapy ISB 2001, a trispecific antibody currently in Phase 1 clinical trials for relapsed/refractory multiple myeloma.

Under the agreement, AbbVie will pay $700 million upfront to obtain exclusive rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China. IGI is eligible to receive up to $1.225 billion in additional milestone payments, plus tiered double-digit royalties on net sales. According to InvestingPro, AbbVie maintains a robust 3.44% dividend yield and has raised its dividend for 12 consecutive years, demonstrating strong financial commitment to shareholders.

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

According to data presented at the 2025 American Society of Clinical Oncology Annual Meeting, ISB 2001 demonstrated a 79% overall response rate and 30% complete/stringent complete response rate at active doses in heavily pretreated patients. InvestingPro analysis indicates AbbVie maintains a "GOOD" overall financial health score, with particularly strong marks in profitability metrics. Get access to 10+ additional exclusive ProTips and comprehensive financial analysis with an InvestingPro subscription.

The U.S. Food & Drug Administration granted ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation for the treatment of relapsed/refractory myeloma in May 2025.

"Multispecifics including trispecific antibodies represent a bold 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, in the press release statement.

IGI Therapeutics is a wholly owned subsidiary of New York-based Ichnos Glenmark Innovation, Inc., a clinical-stage biotechnology company focused on developing innovative biologics in oncology. For detailed insights into AbbVie’s valuation, growth prospects, and peer comparison, access the comprehensive Pro Research Report available exclusively on InvestingPro.

In other recent news, AbbVie has announced an exclusive licensing agreement with IGI Therapeutics for ISB 2001, a trispecific antibody targeting multiple myeloma. The deal involves a $700 million upfront payment and potential milestone payments up to $1.225 billion, along with double-digit royalties on net sales. This partnership allows AbbVie to develop and commercialize the treatment across major markets, pending regulatory clearance. Additionally, AbbVie has updated its 2025 earnings guidance to reflect an $823 million IPR&D expense, impacting its earnings per share by $0.42.

In another development, AbbVie plans to acquire Capstan Therapeutics for up to $2.1 billion, enhancing its early-stage immunology pipeline with Capstan’s RNA delivery technology. Analysts at JPMorgan maintain an Overweight rating on AbbVie, citing strong performance from Skyrizi and Rinvoq, with a $200 price target. Similarly, Morgan Stanley reiterates an Overweight rating with a $250 price target, viewing the Capstan acquisition as beneficial for AbbVie’s growth strategy. These developments reflect AbbVie’s ongoing efforts to expand its portfolio and strengthen its market position.

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