Infinity Pharmaceuticals Inc. (INFI) and AbbVie Inc (ABBV) Stand Together Against Cancer

AbbVie Inc (NYSE:ABBV) will provide Infinity Pharmaceuticals Inc. (NASDAQ:INFI) with $275 million to fortify a new venture to develop new treatments for patients with blood cancer. The main idea behind this deal is combining the current methods and expertise  from both companies to develop a more effective new product for cancer patients, Infinity Pharmaceuticals Inc. (NASDAQ:INFI)’s CEO Adelene Q. Perkins said in an interview on CNBC on Wednesday.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

“[...] We plan to do that with trials that we have on their way today, evaluating our medicine, called Duvelisib, treating patients with Duvelisib alone and together with AbbVie to take it to the next step […] which is combining our targeted medicine with other targeted medicines and we think that has the potential to take patients from a life threatening condition towards, in the near term, living with their disease as a chronic condition and ultimately getting to more curative outcomes,” stated Adelene Q. Perkins.

According to a joint statement, Duvelisib, under study as a monotherapy, is an oral inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma. There’s an already ongoing Phase I study in patients with advanced stages of blood cancer. Next phases are expected to begin by the end of the year. The strategic collaboration between the pharmaceutical companies implies that Infinity Pharmaceuticals Inc. (NASDAQ:INFI) and AbbVie Inc (NYSE:ABBV) will equally share the profits from sales in the US. Both companies see great potential in the venture.

There seems to be more than one reason to venture in order to bring a new product to the patients, although it is currently unclear how will the new drug behave compared to competitors’ products and even to Infinity Pharmaceuticals Inc. (INFI)’s and AbbVie Inc (ABBV)’s already existing medications. Perkins is confident that there is a need for a better treatment of patients, which enjoy some relative amelioration due to the already existing drugs, but are far from being fully cured.

Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!