Benzinga | Dec 10, 2021 09:24AM EST

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

SpringWorks Therapeutics Inc (NASDAQ:SWTX) entered into a clinical trial collaboration agreement with AbbVie Inc (NYSE: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.