NORTH CHICAGO, Ill. and CHICAGO, Nov. 10, 2021 /PRNewswire/ -- AbbVie (NYSE: ABBV) and the University of Chicago and have extended their collaboration agreement through 2025 to support preclinical oncology research.
To date, the collaboration has led to novel insights related to biomarkers and therapeutic applications for existing AbbVie programs. This has included the development of novel drug delivery approaches to enhance anti-tumor immune response and incorporating unique 3D screening methodologies for selecting novel therapeutic molecules.
"Our oncology collaboration with the University of Chicago enables us to combine our expertise in understanding the underlying biology in key areas of interest, such as immuno-oncology, oncogenic pathways, and biomarkers of drug sensitivity or disease," said Steve Davidsen, Vice President, Oncology Discovery Research at AbbVie. "This effort drives towards a common goal of accelerating discovery efforts and delivering novel therapies to people living with cancer."
Continuing the intent of the initial research collaboration, the extension of the collaboration is designed to further accelerate and advance medical research in oncology at both organizations.
"Our ambition is that the clinical and translational collaboration between AbbVie and the University of Chicago continues to impact public health positively," said Kunle Odunsi, M.D., Ph.D., AbbVie Foundation Director, University of Chicago Medicine Comprehensive Cancer Center. "The collaboration has created valuable opportunities for scientific exchange and the development of clinical trials for cancer research."
Under the agreement, the organizations will continue working together to advance research in several areas, focusing on oncology, and AbbVie gains an option for an exclusive license to certain University of Chicago discoveries made as part of the collaboration.
"We look forward to more discoveries together in the years to come," said Juan de Pablo, University of Chicago Vice President for National Laboratories, Science Strategy, Innovation, and Global Initiatives. "The extension of our agreement will continue to provide faculty and students with opportunities to work with colleagues at a global biopharmaceutical leader and translate their findings from the lab into the real world. It will enable the kind of preclinical research that is needed to help lay the foundations for better approaches and treatments with the goal to ultimately improve quality of life for patients."
AbbVie's mission is to discover and deliver innovative medicines 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, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.
About the University of Chicago
The University of Chicago is a leading academic and research institution that has driven new ways of thinking since its founding in 1890. As an intellectual destination, the University draws scholars and students from around the world to its campuses and centers around the globe. The University provides a distinctive educational experience and research environment, empowering individuals to challenge conventional thinking and pursue field-defining research that produces new understanding and breakthroughs with global impact.
About the Polsky Center for Entrepreneurship and Innovation at the University of Chicago
The Polsky Center for Entrepreneurship and Innovation applies world-class business expertise from the University of Chicago Booth School of Business to bring new ideas and breakthrough innovations to market. Home of the University's technology transfer office, the Polsky Center's dedicated team of professionals with deep technical expertise perform market analysis, manage intellectual property, identify partners, and negotiate partnerships and licenses for discoveries and inventions developed by faculty, researchers, and staff. Learn more at polsky.uchicago.edu and follow us on Twitter @polskycenter.
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, among others, 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 indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, failure to realize the expected benefits from AbbVie's acquisition of Allergan plc ("Allergan"), failure to promptly and effectively integrate Allergan's businesses, competition from other products, challenges to intellectual property, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry and the impact of public health outbreaks, epidemics or pandemics, such as COVID-19. 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 2020 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 to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.