AbbVie's $5.6B Bet on a Novel Cancer Antibody to Challenge Rivals

NORTH CHICAGO, IL – January 12, 2026 – AbbVie has placed a multibillion-dollar wager on a new class of cancer therapy, signing a licensing deal with Chinese biotech firm RemeGen that could be worth nearly $5.6 billion. The agreement gives AbbVie exclusive rights outside of Greater China to RC148, a novel investigational antibody designed to fight advanced solid tumors through a powerful dual-action mechanism.

The deal, announced ahead of the annual J.P. Morgan Healthcare Conference, underscores a major strategic push by AbbVie to bolster its oncology pipeline. The company is betting that RC148's unique design will not only prove effective on its own but will also unlock the potential of its next-generation cancer drugs, known as antibody-drug conjugates (ADCs). Under the terms, RemeGen receives a substantial $650 million upfront payment and is eligible for up to $4.95 billion in future development, regulatory, and commercial milestones, plus tiered double-digit royalties.

A Crowded Race for a Dual-Action Weapon

AbbVie is entering a fiercely competitive and increasingly crowded field. RC148 is a PD-1/VEGF bispecific antibody, a class of drug that has become one of the hottest areas in oncology development. These therapies simultaneously block two key pathways that tumors use to survive and grow: the PD-1 pathway, which helps cancer cells hide from the immune system, and the VEGF pathway, which promotes the growth of blood vessels that feed the tumor.

The rationale is that this two-pronged attack can deliver a more powerful anti-tumor response than blocking either pathway alone. This potential has sparked a land rush among major pharmaceutical companies to secure promising assets, many of which have originated from innovative Chinese biotechs.

RC148 is at least the fifth PD-1/VEGF bispecific to be snapped up in a major partnership. The competition includes Akeso Therapeutics' ivonescimab, licensed to Summit Therapeutics, which has already reported positive Phase 3 data against Merck's blockbuster Keytruda in a Chinese lung cancer trial. Other formidable rivals include BioNTech and Bristol Myers Squibb's pumitamig and Pfizer's PF-08634404, both of which are also advancing into late-stage trials for lung and colorectal cancers. The intense competition and high-value deals highlight the enormous perceived potential of this therapeutic class, but also raise the stakes for AbbVie to prove RC148 can differentiate itself.

"Our partnership with RemeGen reflects AbbVie's commitment to not only advance novel oncology treatments, but also to build strong collaborations with biopharmaceutical innovators globally," said Daejin Abidoye, M.D., vice president at AbbVie, in the company's official statement.

The Science of Synergy: Combining Antibodies and 'Smart Bombs'

AbbVie's strategy for RC148 appears to hinge on a key differentiator: synergy. The company plans to explore the bispecific antibody in combination with its own portfolio of ADCs, often described as "smart bombs" that deliver potent chemotherapy directly to cancer cells.

The scientific thinking is that by blocking VEGF, RC148 can normalize the chaotic blood vessel structure within a tumor, making it more permeable. This could allow ADCs, such as AbbVie's investigational telisotuzumab adizutecan (Temab-A), to better penetrate the tumor and deliver their cytotoxic payload. Simultaneously, by blocking PD-1, RC148 unleashes the immune system to attack the cancer cells that have been exposed and damaged by the ADC.

"By combining the immune checkpoint inhibition and anti-angiogenic activity of RC148 together with the targeted cytotoxic activity of ADCs, we have the potential to identify meaningful options for patients across a range of solid tumors," Abidoye added.

This combination approach could be particularly crucial for overcoming treatment resistance in advanced cancers. Early clinical data from RemeGen's trials in China has already shown favorable antitumor activity when RC148 is used in combination with an ADC, providing a foundation for AbbVie's ambitious strategy.

A New Hope for Hard-to-Treat Cancers

For patients with advanced solid tumors like non-small cell lung cancer (NSCLC) and colorectal cancer (CRC), treatment options can be limited, and prognoses are often poor. The development of RC148 offers a new avenue of hope. The drug is currently being evaluated in a multi-center Phase I/II trial in China, both as a standalone therapy and in various combination regimens, with an estimated 221 patients enrolled.

Significantly, China's National Medical Products Association (NMPA) has already granted RC148 a breakthrough therapy designation for use with chemotherapy as a second-line treatment for NSCLC, signaling regulatory confidence in its early potential. In August 2025, the U.S. Food and Drug Administration (FDA) also gave RemeGen the green light to begin a Phase 2 trial of RC148 in the United States, paving the way for global development.

While comprehensive data is still forthcoming, with results from several key studies expected in 2026, the initial signs are promising. The focus on combination therapies from the outset of development could accelerate the path to finding more effective regimens for patients who have exhausted standard treatments.

Validating China's Biotech Prowess

The deal is not only a major strategic move for AbbVie but also a massive validation for RemeGen and the broader Chinese biotechnology sector. Based in Yantai, RemeGen has rapidly established itself as a powerhouse of biologic drug innovation. This is the third major global licensing deal for the company, solidifying its reputation for developing high-value, first- or best-in-class therapies.

In 2021, Seagen (now part of Pfizer) paid $200 million upfront in a deal worth up to $2.6 billion for rights to RemeGen's ADC, disitamab vedotin. More recently, in June 2025, the company licensed its autoimmune drug, telitacicept, to Vor Biopharma in a deal potentially worth over $4 billion. These successful partnerships have provided RemeGen with significant non-dilutive capital to fuel its pipeline and have demonstrated its ability to produce assets that meet the rigorous standards of global pharmaceutical giants.

"This collaboration is a significant milestone for RemeGen, highlighting the innovative potential of RC148 in addressing critical unmet medical needs in cancer treatment," said Dr. Jianmin Fang, CEO of RemeGen. "Working with AbbVie, we look forward to maximizing RC148's clinical and commercial potential in China and globally."

The surge in RemeGen's stock price following the announcement—jumping 8.4% in Hong Kong and 20% in Shanghai—reflects strong investor confidence in the deal's value and the company's long-term prospects. As AbbVie integrates RC148 into its global development plans, the industry will be watching closely to see if this high-stakes bet can deliver a new standard of care for patients and a competitive edge in the dynamic oncology market.