AbbVie grows oncology pipeline with Stemcentrx acquisition
NORTH CHICAGO — Biopharmaceutical company AbbVie on Thursday announced its planned acquisition of Stemcentrx and its late-stage potential treatment for small cell lung cancer, Rova-T (rovalpituzumab tesirine).
“AbbVie is committed to continued innovation in oncology, a critical component of our long-term growth and an area of significant need to millions of patients worldwide,” AbbVie chairman and CEO Richard Gonzalez said. “The addition of Stemcentrx and its late-stage compound Rova-T provide AbbVie with a unique platform in solid tumor therapeutics and complement our leadership position in hematologic oncology. We believe the acquisition of Stemcentrx will strengthen and accelerate our ability to deliver innovative therapies that will have a remarkable impact on patients' lives.”
Rova-T is under investigation as a potential third-line treatment for SCLC, for which there isn’t an approved therapy and it has been submitted to the Food and Drug Administration for consideration for Breakthrough Therapy designation.
“We are thrilled to be joining the AbbVie team and believe that, together, we can bring much-needed therapies to cancer patients," Stemcentrx founder and CEO Brian Slingerland said. “AbbVie, with its long-term commitment and expertise in drug development, will help us turn our scientific discoveries into a mainstay of cancer treatments."
Loading Post Please Wait...