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Shares in OSE Immunotherapeutics jumped 60% in early trading in Paris. AbbVie is talkin’ bout a resolution. The Big Pharma has bet $48 million on OSE Immunotherapeutics’ antibody platform, handing the biotech the upfront fee and dangling another $665 million in milestones for global rights to a novel approach to chronic inflammation.  Inflammation drives tissue damage and scarring in patients with chronic inflammatory and autoimmune diseases. Conventionally, biopharma companies seek to prevent harm to tissue by developing drugs that block pro-inflammatory pathways. OSE’s anti-ChemR23 monoclonal antibody comes at the problem from a different angle. The candidate, code-named OSE-230, is designed to resolve, rather than block, inflammation. In healthy individuals, the inflammation process concludes with the restoration of tissue integrity and the return to normal function. When that fails to happen, people develop chronic inflammation. ChemR23, a G-protein coupled receptor, is expressed by various immune cells and plays a role in starting and ending inflammation. In preclinical tests, OSE has shown targeting ChemR23 affects the activity of macrophages and neutrophils in ways that may accelerate the resolution of acute inflammation.  AbbVie sees promise in the approach and has secured the global rights to OSE-230. In a statement, Jonathon Sedgwick, Ph.D., AbbVie’s global head of discovery research, called ChemR23 agonism “a novel mechanism-of-action to treat chronic inflammation” and outlined plans to apply the company’s expertise in immunology to the development of OSE-230. Shares in OSE jumped 60% to above 5 euros ($5.40) in early trading in Paris. The deal provides external validation of an idea that OSE has been working on for years. OSE-230 is the most advanced candidate from OSE’s “pro-resolutive antibody platform,” but, with the biotech focused on assets such as its late-phase cancer vaccine Tedopi, it has remained stuck in the preclinical pipeline. OSE published data from inflammatory preclinical and ex vivo human models in 2020. The biotech linked (PDF) the antibody to the resolution of inflammation in models of chronic colitis, Type 1 diabetes and multiple sclerosis. OSE published a Science Advances paper about its work in chronic colitis the next year and followed up with an abstract about the effect of the antibody on neutrophil recruitment in 2023.  The early-stage nature of OSE-230 suits AbbVie just fine. On an earnings call early this month, Robert Michael, who will become AbbVie CEO in July, said the company is focused on finding assets to “drive growth in the next decade.” That means “early-stage opportunities, which are typically smaller-sized deals,” Michael said, and, in immunology, “new mechanisms of action that can elevate standard of care.”

- Global license and collaboration agreement to focus on the development of OSE-230, a monoclonal antibody designed to resolve chronic inflammation - OSE Immunotherapeutics to receive an upfront payment of $48 million and will be eligible to receive up to an additional $665 million in milestone payments NORTH CHICAGO, Ill. and NANTES, France, Feb. 28, 2024 /PRNewswire/ -- AbbVie Inc. (NYSE: ABBV) and OSE Immunotherapeutics SA (ISIN: FR0012127173; Mnemo: OSE), a clinical-stage immunotherapy company, today announced a strategic partnership to develop OSE-230, a monoclonal antibody designed to resolve chronic and severe inflammation, currently in the pre-clinical development stage. OSE-230 is a first-in-class monoclonal antibody designed to activate ChemR23, a G-Protein Coupled Receptor (GPCR) target. Activation of ChemR23 may offer a novel mechanism for the resolution of chronic inflammation, modulating functions of both macrophages and neutrophils. "This collaboration underscores our commitment to expanding our immunology portfolio with the ultimate goal of improving the standard of care for patients living with inflammatory diseases globally," said Jonathon Sedgwick, Ph.D., senior vice president and global head of discovery research, AbbVie. "By leveraging our expertise in immunology drug development, we look forward to advancing OSE-230, which offers a novel mechanism-of-action to treat chronic inflammation." "We are very pleased to collaborate with AbbVie, a global leader in the development and commercialization of innovative medicines, to drive our OSE-230 program forward," said Nicolas Poirier, chief executive officer, OSE Immunotherapeutics. "This partnership represents a major milestone in our company's progress and recognizes the value of our innovative R&D capabilities. I would like to thank all our employees who helped us reach this milestone through dedication and hard work." Under the terms of the agreement, AbbVie will receive an exclusive global license to develop, manufacture and commercialize OSE-230. OSE Immunotherapeutics will receive a $48 million upfront payment and will be eligible to receive up to an additional $665 million in clinical development, regulatory and commercial milestones. In addition, OSE Immunotherapeutics will be eligible to receive potential tiered royalties on global net sales of OSE-230. The transaction is subject to the satisfaction of customary closing conditions, including the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. About AbbVie AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at . Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter), and YouTube. ABOUT OSE Immunotherapeutics OSE Immunotherapeutics is a biotech company dedicated to developing first-in-class assets in immuno-oncology (IO) and immuno-inflammation (I&I). The Company's current well-balanced first-in-class clinical pipeline includes: Tedopi® (immunotherapy activating tumor specific T-cells, off-the-shelf, neoepitope-based): this cancer vaccine is the Company's most advanced product; positive results from the Phase 3 trial (Atalante 1) in Non-Small Cell Lung Cancer patients in secondary resistance after checkpoint inhibitor failure. Other Phase 2 trials, sponsored by clinical oncology groups, of Tedopi® in combination are ongoing in solid tumors. OSE-279 (anti-PD1): first positive results in the ongoing Phase 1/2 in solid tumors. OSE-279 is the backbone therapy of the BiCKI® platform. OSE-127 - lusvertikimab (humanized monoclonal antibody antagonist of IL-7 receptor); ongoing Phase 2 in Ulcerative Colitis (sponsor OSE Immunotherapeutics); ongoing preclinical research in leukemia (OSE Immunotherapeutics). FR-104/VEL-101 (anti-CD28 monoclonal antibody): developed in partnership with Veloxis Pharmaceuticals, Inc. in transplantation; ongoing Phase 1/2 in renal transplant (sponsor Nantes University Hospital); Phase 1 ongoing in the US (sponsor Veloxis Pharmaceuticals, Inc.). BI 765063 and BI 770371 (anti-SIRPα monoclonal antibody on CD47/SIRPα pathway) developed in partnership with Boehringer Ingelheim in advanced solid tumors; positive Phase 1 dose escalation results in monotherapy and in combination, in particular with anti-PD-1 antibody ezabenlimab; international Phase 1b ongoing clinical trial in combination with ezabenlimab alone or with other drugs in patients with recurrent/metastatic head and neck squamous cell carcinoma (HNSCC) and hepatocellular carcinoma (HCC). OSE-230 (ChemR23 agonist mAb) developed in partnership with AbbVie in chronic inflammation. OSE Immunotherapeutics expects to generate further significant value from its three proprietary drug discovery platforms, which are central to its ambitious goal to deliver next-generation first-in-class immunotherapies: Pro-resolutive mAb platform focused on targeting and advancing inflammation resolution and optimizing the therapeutic potential of targeting Neutrophils and Macrophages in I&I. OSE-230 (licensed to AbbVie) is the first candidate generated by the platform, additional discovery programs ongoing on new pro-resolutive GPCRs. Myeloid Checkpoint platform focused on optimizing the therapeutic potential of myeloid cells in IO by targeting immune regulatory receptors expressed by Macrophages and Dendritic cells. BI 765063 and BI 770371 (licensed to Boehringer Ingelheim) are the most advanced candidates generated by the platform. Ongoing additional discovery programs, in particular with positive preclinical results obtained in monotherapy with new anti- CLEC-1 mAbs. Cytokine platform focused on leveraging the Cis-Delivery of cytokine in IO and I&I. BiCKI® is a bispecific fusion protein platform built on the key backbone component of anti-PD1 combined with a new immunotherapy target to increase anti-tumor efficacy. BiCKI® -IL-7v is the most advanced BiCKI® candidate targeting anti-PD1xIL-7. Ongoing additional discovery programs on Cis-Demasking technologies. AbbVie Forward-Looking Statements Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2023 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. OSE Forward-looking statements This press release contains express or implied information and statements that might be deemed forward-looking information and statements in respect of OSE Immunotherapeutics. They do not constitute historical facts. These information and statements include financial projections that are based upon certain assumptions and assessments made by OSE Immunotherapeutics' management in light of its experience and its perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. These forward-looking statements include statements typically using conditional and containing verbs such as "expect", "anticipate", "believe", "target", "plan", or "estimate", their declensions and conjugations and words of similar import. Although the OSE Immunotherapeutics management believes that the forward-looking statements and information are reasonable, the OSE Immunotherapeutics' shareholders and other investors are cautioned that the completion of such expectations is by nature subject to various risks, known or not, and uncertainties which are difficult to predict and generally beyond the control of OSE Immunotherapeutics. These risks could cause actual results and developments to differ materially from those expressed in or implied or projected by the forward-looking statements. These risks include those discussed or identified in the public filings made by OSE Immunotherapeutics with the AMF. Such forward-looking statements are not guarantees of future performance. This press release includes only summary information and should be read with the OSE Immunotherapeutics Universal Registration Document filed with the AMF on May 2, 2023, including the annual financial report for the fiscal year 2022, available on the OSE Immunotherapeutics' website. Other than as required by applicable law, OSE Immunotherapeutics issues this press release at the date hereof and does not undertake any obligation to update or revise the forward-looking information or statements. SOURCE AbbVie

AbbVie will gain an exclusive global licence to further develop a monoclonal antibody from OSE Immunotherapeutics designed to resolve chronic and severe inflammation. The deal, announced Tuesday, includes an upfront payment of $48 million and is potentially worth over $700 million to OSE."By leveraging our expertise in immunology drug development, we look forward to advancing OSE-230, which offers a novel mechanism-of-action to treat chronic inflammation,” remarked Jonathon Sedgwick, global head of discovery research at AbbVie. OSE-230 is designed to activate the GPCR target ChemR23, modulating functions of both macrophages and neutrophils. The compound is currently in preclinical development.In addition to the upfront sum, OSE is eligible to receive up to $665 million in milestone payments, as well as tiered sales royalties if OSE-230 reaches the market.More to come.