Alpine Immune Sciences’ lupus drug candidate now has AbbVie lined up to continue the compound’s development.

The drug, ALPN-101, is ready for Phase 2 testing, which will be conducted by Seattle-based Alpine. The deal announced Thursday grants AbbVie (NYSE: ABBV) an exclusive option to license the drug after that study. The North Chicago, IL-based pharmaceutical company is paying its new partner $60 million up front for that option and, if the drug achieves clinical and regulatory milestones, will be responsible for up to $805 million more. If the drug reaches the market, Alpine is also eligible for royalties from sales.

Shares… Read more »