Simcere Pharmaceutical Receives $40 Million Milestone Payment from AbbVie for SIM0500 Development

Gelonghui February 3 | Simcere announced that the company has received a $40 million payment from AbbVie. This payment is a milestone payment made according to the terms of the SIM0500 overseas license option agreement previously established between the two parties. The agreement includes an upfront payment and optional rights and milestone payments of up to $1.055 billion. SIM0500 is a humanized GPRC5D-BCMA-CD3 trispecific antibody that has demonstrated potent T-cell cytotoxic effects against MM cells. This payment reflects the positive progress in the clinical development collaboration of SIM0500 by both parties.