AbbVie enters PD-1/VEGF BsAb field via RemeGen licensing deal

Edited by Robert McTiernan··3 min read

AbbVie (NYSE: ABBV) announced the signing of an exclusive licensing agreement with China-based RemeGen to develop, manufacture, and commercialize RC148, a novel PD-1/VEGF-targeted bispecific antibody. The deal covers all markets outside the Greater China territory. RC148 is under development as both monotherapy and in combination regimens across multiple solid tumor types, including non-small cell lung cancer (NSCLC) and colorectal cancer (CRC).

Under the deal terms, AbbVie secures exclusive rights to RC148 outside Greater China in return for an upfront USD 650 million. Remegen is also eligible for up to USD 4.95 billion in aggregate development, regulatory, and commercial milestone payments alongside tiered double-digit royalties on net sales outside Greater China.

AbbVie’s oncology leadership described the collaboration as aligned with the company’s strategy to expand its portfolio of innovative cancer therapies and explore combination regimens with its existing ADC assets, citing the c-Met-targeted ADC telisotuzumab adizutecan (Temab-A) as a likely candidate. RemeGen characterized the deal as a major step in advancing RC148’s global clinical and commercial potential.

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Research Context

PD-1/VEGF bispecific antibodies represent a rapidly advancing frontier in immuno-oncology, aiming to synergistically block immune checkpoints (PD-1/PD-L1) and tumor angiogenesis (VEGF/VEGFA) within a single therapeutic. This dual-targeting strategy seeks to overcome limitations seen with monotherapies and even traditional combinations of PD-1 inhibitors plus VEGF inhibitors, by improving immune cell infiltration, reducing immunosuppressive tumour vasculature, and potentially simplifying dosing and toxicity management.

Public sources indicate Remegen has initiated four separate clinical trials for RC148, all based in China. The latest stage study is a Phase 2 trial assessing RC148 in combination with disitamab vedotin in HR-negative, HER2-low expressing unresectable locally advanced or metastatic breast cancer. In August this year, Remegen announced receipt of IND approval from the US FDA for the molecule

The competitive landscape is now led by a growing group of bispecific programs, many originating in China and increasingly partnered with multinational pharma:

  • Ivonescimab (AK112/SMT112) – from Akeso and Summit Therapeutics, currently the most clinically advanced asset in the class. The drug won a first approval in China in May 2024 for non-small cell lung cancer (NSCLC) after EGFR-TKI therapy, with additional approvals for first-line treatment anticipated or sought. In the US, a Biologics License Application (BLA) was submitted to the FDA in January 2026 for second-line EGFR-mutant NSCLC, with a potential decision by late 2026. Summit formed a USD 5 billion partnership with Akeso on the molecule’s ex-China development in 2022.
  • JS207 – from Junshi Biosciences, in Phase I/II development for advanced solid tumours and NSCLC.
  • LM-299 – from LaNova Medicines, now globally licensed to Merck, in Phase I trials in China.
  • AI-081 – from OncoC4, in Phase I/II studies in the US.
  • PF-08634404 – originated by 3SBio and licensed globally to Pfizer in a deal valued at USD 1.25 billion, now moving toward pivotal trials in lung and colorectal cancer.
  • Imm2510 – from ImmuneOnco and Instil Bio, a PD-L1×VEGF fusion protein in early Phase I development.
  • Pumitamig – from BioNTech and Bristol Myers Squibb (BMS), a PD-L1×VEGF-A bispecific now in Phase II testing in extensive-stage small cell lung cancer. BioNTech acquired pumitamig via the USD 800 million acquisition of China’s Biotheus which closed in February 2025, with BMS then forming a co-development partnership focused on the molecule in June last year, paying BioNTech USD 1.5 billion upfront.