AbbVie, SpringWorks Join Forces To Conduct Multiple Myeloma Combo Therapy Trial

SpringWorks Therapeutics Inc SWTX entered into a clinical trial collaboration agreement with AbbVie Inc ABBV to evaluate SpringWorks' nirogacestat combination with ABBV-383 in relapsed or refractory multiple myeloma.

• Gamma secretase inhibition helps prevent the cleavage and shedding of BCMA from the surface of myeloma cells. 
• Under the terms of the agreement, AbbVie will sponsor and conduct the Phase 1b study to evaluate the combination's safety, tolerability, and preliminary efficacy.
• AbbVie will also assume all costs associated with the study, other than expenses related to the manufacturing of nirogacestat and certain expenses related to intellectual property rights. 
• AbbVie and SpringWorks will commence the Phase 1 trial in 1H 2022.
• Price Action: SWTX shares closed at $71.66 on Thursday, while ABBV shares are up 0.25% at $124.46 during the premarket session on the last check Friday.