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

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

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!