AbbVie pens cancer pact with U.S.-China biotech Jacobio

AbbVie has signed a new pact to focus on SHP2 inhibitors, which target a key node in cancer and immune cells, from early-stage biotech Jacobio Pharmaceuticals.

Under the deal, financials of which are not being shared, AbbVie nabs an exclusive license to the China and U.S. company’s SHP2 portfolio.