By Michael Dabaie

Dragonfly Therapeutics said it is in a collaboration with AbbVie Inc. (ABBV).

The biopharmaceutical company said it and AbbVie are in a multi-target research collaboration designed to advance Dragonfly's immunotherapies for autoimmune and oncology indications.

The deal grants AbbVie the option to license exclusive worldwide intellectual property rights to develop and commercialize products directed to specific targets using Dragonfly's TriNKET technology platform.

AbbVie will pay Dragonfly an upfront payment, future success-based milestone payments and royalties, Dragonfly said.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

November 20, 2019 09:29 ET (14:29 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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