Pharma BD Deal Intelligence
AbbVie's $50M-upfront, $510M-potential option on Harpoon's BCMA TriTAC HPN217 lapsed in 2022 despite 77% ORR at ASH 2022 in heavily pretreated multiple myeloma—strong data wasn't enough against a crowded bispecific field.
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Updated ASH 2022 data showed 77% ORR at the high-dose cohort in heavily pretreated multiple myeloma patients, supporting HPN217's clinical promise but…
AbbVie passed on its option for HPN217, ending the partnership and puncturing Harpoon's path to a potential $200M+ payday; the opt-out reflected a crowded BCMA…
AbbVie's exit from the HPN217 program signaled diminished commercial appetite for differentiated BCMA assets in a market already crowded by approved CAR-Ts and…
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Harpoon Therapeutics and AbbVie entered an exclusive worldwide option and license agreement for HPN217, a BCMA-targeting TriTAC for multiple myeloma, and expanded their TriTAC discovery collaboration. Harpoon received $50M upfront with up to $510M in total upfront, option exercise and milestone payments plus royalties. AbbVie terminated the HPN217 option in 2022.
36K US cases/yr
Multiple myeloma is an incurable plasma-cell malignancy of the bone marrow characterized by clonal proliferation of antibody-producing cells, leading to bone lesions, anemia, hypercalcemia, kidney impairment, and immune dysfunction. Patients cycle through multiple lines of therapy as the disease relapses, and outcomes deteriorate sharply in heavily pretreated and triple-class refractory populations. BCMA, expressed on essentially all myeloma cells, has emerged as the dominant target for late-line CAR-T and T-cell engager modalities.
At deal signing in November 2019, multiple myeloma frontline and relapsed/refractory care was anchored by Celgene's Revlimid (lenalidomide) and Pomalyst plus J&J's Darzalex (daratumumab) and Takeda's Velcade/Ninlaro. The race to capture the post-anti-CD38 segment had crystallized around BCMA: bluebird/Celgene's ide-cel (Abecma), J&J/Legend's cilta-cel (Carvykti), and GSK's belantamab mafodotin (Blenrep) ADC were the most advanced BCMA agents. Bispecific T-cell engagers were the next wave, led by J&J's teclistamab (Tecvayli, BCMAxCD3) and Pfizer's elranatamab. Harpoon's HPN217 was a half-life extended tri-specific (BCMA x CD3 x albumin) TriTAC differentiated by sub-q dosing potential and lower cytokine release. AbbVie's $510M option provided commercial validation but the company opted out in October 2023 after 77% ORR data at high dose, citing competitive intensity from approved bispecifics. The opt-out stranded HPN217 with Harpoon, which Merck subsequently acquired in early 2024.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| AbbVie Inc. / Harpoon Therapeutics (this deal) | 2019 | $510M | — |
| AbbVie Inc. / Boehringer Ingelheim GmbH | 2016 | $2.2B | 95 |
| AbbVie Inc. / Genmab A/S | 2020 | $3.9B | 81 |
| AbbVie Inc. / Pharmacyclics Inc. | 2015 | $21.0B | 79 |
| AbbVie Inc. / Apogee Therapeutics, Inc. | 2026 | $10.9B | 72 |
| AbbVie Inc. / ImmunoGen Inc. | 2023 | $10.1B | 69 |
| AbbVie Inc. / Gilgamesh Pharmaceuticals Inc. | 2024 | $2.0B | 64 |
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More: 2019 deals · AbbVie Inc. deals · Hematology deals