AbbVie up to $1.45B option on Kestrel pan-RAS oncology
Key Questions
What is AbbVie's deal with Kestrel Therapeutics?
AbbVie has an option to acquire Kestrel for up to $1.45 billion in biobucks related to KST-6051, a pan-RAS oncology candidate. Phase 1 dosing in KRAS-mutated solid tumors began on April 28.
Did AbbVie acquire Revolution Medicines?
AbbVie denied rumors of acquiring Revolution Medicines. The company instead pursued the option deal with Kestrel in the pan-RAS oncology space.
How does the Kestrel deal fit AbbVie's oncology strategy?
It aligns with AbbVie's oncology M&A focus, $100 billion R&D commitment, and Durham hub initiatives. It complements partnerships like Capstan, RemeGen, and EvolveImmune.
What is the status of KST-6051?
KST-6051, Kestrel's pan-RAS inhibitor, initiated Phase 1 dosing on April 28 for KRAS-mutated solid tumors. AbbVie holds an option that could lead to full acquisition.
Any recent milestones in AbbVie's partnerships?
EvolveImmune received an $18 million milestone payment from its AbbVie partnership. This supports AbbVie's broader oncology collaboration efforts.
$1.45B biobucks for KST-6051 KRAS Ph1 dosing Apr28, option to acquire; denies RevMed rumors; fits onc/M&A/$100B R&D/Durham alongside Capstan/RemeGen/EvolveImmune milestone.