Plan R&D facility in S.F. Bay Area, may co-invest up to $1.5 billion to tackle age-related diseases
September 3, 2014
Calico and drug company AbbVie announced today a novel R&D collaboration intended to “help the two companies discover, develop, and bring to market new therapies for patients with age-related diseases, including for neurodegeneration and cancer.”
Calico is the Google-backed life sciences company that is led by Arthur D. Levinson Ph.D. (former chairman and CEO of Genentech) and Hal V. Barron, M.D. (former Executive Vice President and Chief Medical Officer of Genentech). Abbvie is a global, research-based biopharmaceutical company.
Under the agreement, the companies will combine their complementary strengths to accelerate the availability of new therapies for age-related diseases. Calico will use its scientific expertise to establish a world-class research and development facility, with a focus on drug discovery and early drug development. AbbVie will provide scientific and clinical development support and its commercial expertise to bring new discoveries to market
Details of the Research Collaboration
- AbbVie and Calico will each initially provide up to $250 million to fund the collaboration with the potential for both sides to contribute an additional $500 million
- Calico will be responsible for research and early development during the first five years and continue to advance collaboration projects through Phase 2a for a ten year period
- AbbVie will support Calico in its early R&D efforts and, following completion of Phase 2a studies, will have the option to manage late-stage development and commercial activities
- Both parties will share costs and profits equally
Calico expects to begin filling critical positions immediately and plans to establish a substantial team of scientists and research staff in the San Francisco Bay Area.