AbbVie, RegenXBio Ink $1.75B Retinal Gene Therapy Collaboration - Regenxbio (NASDAQ:RGNX), AbbVie (NYSE:ABBV)

AbbVie Inc ABBV and Regenxbio Inc RGNX have partnered to develop and commercialize RGX-314, potential one-time gene therapy for wet age-related macular degeneration (wet AMD), diabetic retinopathy (DR), and other chronic retinal diseases.
RGX-314 is currently being evaluated in patients with wet AMD in a pivotal trial utilizing subretinal delivery and patients with wet AMD and DR in two separate Phase 2 trials using in-office suprachoroidal delivery.
Read Next: Regenxbio Gene Therapy Shows Treatment Benefit In Wet AMD Study.
Under the collaboration, Regenxbio will complete the ongoing trials of RGX-314. AbbVie and Regenxbio will collaborate and share costs on additional trials of RGX-314.
AbbVie will lead the clinical development and commercialization of RGX-314 globally.
Under the terms of the agreement, AbbVie will pay Regenxbio a $370 million upfront payment with the potential of up to $1.38 billion in milestone payments.
Price Action: RGNX stock is trading 21.50% higher at $40.19, and ABBV stock is up 0.88% at $107.62 during the premarket session on the last check Monday.