Rockville-based RegenxBio (Nasdaq: RGNX) is moving forward with the next phase of its partnership with North Chicago Illinois-based AbbVie (NYSE: ABBV) to create a treatment for wet age-related macular eye degeneration (wet AMD).
The partnership announced in September 2021 is on its way to commercialize RGX-314, in what RegenxBio hopes will be a one-time gene therapy for wet AMD.
RegenxBio already received a $370 million upfront payment from AbbVie, and it could get up to $1.38 billion in additional development, regulatory and commercial milestones as RGX-314 progresses.
"The initiation of this Phase III study, a first under our collaboration with RegenxBio, is an important advancement in our continued pursuit of innovative treatments for patients living with difficult-to-treat retinal diseases, visual impairment, and devastating vision loss," said Michael Robinson, MD, vice president, clinical development, ophthalmology, AbbVie. "We look forward to identifying the full potential of RGX-314 as part of our commitment to advancing vision care."
If RGX-314 is successful with FDA approval, both companies would share profits equally. RegenxBio would take care of sales and manufacturing in the U.S., while AbbVie would handle those specifics in international markets.
RegenxBio executed one of the biggest leases in 2020, taking the entire 177,000 square foot building at 9804 Medical Center Drive in North Rockville.