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Home Industry News AbbVie acquires Stemcentrx to strengthen cancer capabilities

AbbVie acquires Stemcentrx to strengthen cancer capabilities

29th April 2016

AbbVie has further strengthened its cancer research capabilities with the acquisition of Stemcentrx in a deal worth around $5.8 billion (3.97 million pounds).

The acquisition deal will see AbbVie take ownership of Stemcentrx's lead late-stage asset rovalpituzumab tesirine, which is currently in registrational trials for small cell lung cancer (SCLC). 

Rova-T is derived from cancer stem cells and works by targeting delta-like protein 3, which is expressed in more than 80 percent of SCLC patient tumours, but is not present in healthy tissue.

It will be incorporated into AbbVie's existing clinical oncology pipeline, which is comprised of more than a dozen assets, including five programmes in late-stage development.

Richard Gonzalez, chairman and chief executive officer of AbbVie, said: "We believe the acquisition of Stemcentrx will strengthen and accelerate our ability to deliver innovative therapies that will have a remarkable impact on patients' lives."

This comes after the firm recently announced cancer-focused research collaborations with CytomX Therapeutics, Argenx and the University of Chicago.ADNFCR-8000103-ID-801817596-ADNFCR

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