AbbVie has signed an agreement with China-based biotechnology company RemeGen to obtain the ex-China rights to RC148, a bispecific antibody that targets PD-1 and VEGF. As part of the transaction, AbbVie will make an upfront payment of $650 million to RemeGen.
In addition to the initial payment, the agreement includes the potential for up to $4.95 billion in further payments tied to development progress, regulatory achievements, and commercial milestones. RemeGen is also eligible to receive tiered, double-digit royalties on net sales if RC148 is approved and commercialized.
RC148 is currently in phase 2 clinical development in China, where it is being evaluated as a treatment option for patients with advanced solid tumors. AbbVie stated that early clinical data generated to date have shown initial favorable antitumor activity when RC148 is used in combination with an antibody-drug conjugate. The company noted that this activity has been observed in studies conducted within China, and no trial sites outside the country have been activated so far.
RemeGen first advanced RC148 into clinical testing in 2023, at which point the company initiated two early-stage trials in patients with solid tumors. During the following year, RemeGen expanded the development program by starting additional studies in specific patient populations, including those with breast cancer and non-small cell lung cancer. All of the clinical studies for RC148 have been conducted exclusively in China up to this point.
AbbVie’s interest in the PD-1xVEGF bispecific class predates the RemeGen deal. The company has previously discussed its monitoring of this area during investor communications. On an earnings call in August 2025, AbbVie’s chief scientific officer, Roopal Thakkar, addressed questions related to the mechanism and said, “There are several assets that are revealing data over time. But it is something that we’re interested in and looking at.” During that call, she also highlighted AbbVie’s focus on evaluating how bispecific antibodies of this type could potentially be paired with antibody-drug conjugates developed internally.
In its announcement regarding the RemeGen agreement, AbbVie stated that RC148 may provide opportunities to explore combination treatment regimens with its ADC portfolio. The company specifically referenced investigational telisotuzumab adizutecan and said that such combinations could be studied across multiple solid tumor types with high unmet need, including non-small cell lung cancer and colorectal cancer.
AbbVie has made several moves in recent years to expand its presence in the ADC field. In 2023, the company agreed to acquire ImmunoGen and its approved ADC therapy Elahere in a transaction valued at $10.1 billion. AbbVie has also continued to advance its internal ADC pipeline and received FDA approval for another ADC therapy, Emrelis, as part of these efforts.
RemeGen, meanwhile, already has a marketed product in China. The company sells telitacicept, a dual inhibitor of B lymphocyte stimulator and A proliferation-inducing ligand A, for indications that include systemic lupus erythematosus, rheumatoid arthritis, and generalized myasthenia gravis. Telitacicept is also the subject of a separate ex-China licensing agreement with Vor Bio that carries a potential value of more than $4 billion.
Commenting on the AbbVie transaction, RemeGen’s chief executive officer, Jianmin Fang, said the agreement highlights the company’s focus on advancing therapies beyond the domestic market and emphasized working with AbbVie on the development of RC148.
Through this deal, AbbVie gains ex-China rights to a clinical-stage PD-1/VEGF bispecific antibody, while RemeGen retains rights within China and continues to advance the program through ongoing clinical studies.
Strategic Partnership Accelerates Global Reach for RemeGen
The licensing deal between AbbVie and RemeGen not only provides a substantial upfront payment but also reinforces RemeGen’s role as a leading innovator in immuno-oncology. By granting AbbVie ex-China rights to the PD-1/VEGF bispecific RC148, RemeGen ensures that its groundbreaking therapy can reach patients worldwide more efficiently. This collaboration allows RemeGen to focus on expanding its domestic pipeline while benefiting from AbbVie’s global regulatory, clinical, and commercialization expertise. As a result, RemeGen’s RC148 program could see accelerated development timelines, potentially bringing new treatment options to cancer patients faster.
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