China-based biotech company I-Mab said on Friday that AbbVie has terminated a 2020 deal to co-develop and market I-Mab's lead cancer drug candidate lemzoparlimab. AbbVie's decision to scrap the deal comes after it pulled the plug on an early-stage study in August last year that was testing lemzoparlimab in combination with two other drugs for treating two types of blood cancers, myelodysplastic syndrome and acute myelocytic leukemia. The deal termination will be effective Nov. 20 this year, and will not affect upfront and milestone payments of $200 million that the company has received from AbbVie, according to I-Mab.
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