Pharma BD Deal Intelligence
On October 31, 2024, AbbVie entered a multi-year discovery collaboration and option-to-license agreement with privately held EvolveImmune Therapeutics to develop next-generation, multispecific T-cell engager biotherapeutics for solid and hematologic malignancies. EvolveImmune received $65 million in aggregate upfront fees and equity investment from AbbVie and is eligible for up to $1.4 billion in aggregate option fees and milestones, plus tiered royalties on net sales. The partnership leverages EvolveImmune's proprietary EVOLVE platform, which incorporates integrated T-cell co-stimulation designed to amplify and sustain tumor-killing capacity against immunologically 'cold' tumors. On April 28, 2026, the collaboration reached its first development milestone: the nomination of a development candidate against a solid-tumor target — the first program from the partnership to reach candidate selection — triggering an $18 million milestone payment to EvolveImmune. Separately, EvolveImmune is advancing its wholly owned lead asset EVOLVE104 (a trispecific T-cell engager) into a Phase 1a/1b trial following FDA IND clearance in August 2025.