WASHINGTON (dpa-AFX) - AbbVie (ABBV) and FutureGen Biopharmaceutical Beijing
Co. announced a license agreement to develop FG-M701, a next generation TL1A
antibody for the treatment of IBD currently in preclinical development. AbbVie
will receive an exclusive global license to develop, manufacture and
commercialize FG-M701. FutureGen will receive $150 million in upfront and
near-term milestone payments and will be eligible to receive up to an additional
$1.56 billion in milestones, as well as tiered royalties up to low-double digits
on net sales.

FutureGen Biopharmaceutical is a biopharmaceutical company committed to
providing biologics for patients with cancer, immune diseases and other
diseases.

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