This is Part Three of a three-part series about an exemplary research collaboration between global biopharmaceutical giant AbbVie and BioArctic, a research-intensive Swedish biopharmaceutical company. The purpose of the alliance was to develop antibodies (immunotherapy) based on promising science discovered by BioArctic that could stop progression of the debilitating Parkinson’s disease (PD). The partners wish to share their experiences so that both their companies and others may benefit. The Rhythm of Business was engaged after their collaboration had achieved its primary objective to help the partners examine their alliance, identify repeatable practices, and tell their story.
Read Part One: The Making of a True Collaboration
Read Part Two: How the AbbVie-BioArctic Partnership Executes Collaboratively
For two years the partners had been following the workplan, advancing the science that they hoped would produce a game-changing treatment for Parkinson’s Disease. For that to happen, AbbVie had to “opt-in” to license the antibodies for clinical development. If it decided not to, for any number of valid business or scientific reasons, BioArctic would need to go find another partner. If that rejection were to occur, it would cost them valuable time in both the exclusivity to the underlying intellectual property and in the competitive arena. It would result in devaluing the asset in the eyes of a new development partner. In October 2018 BioArctic delivered the “Golden Package” containing the fruits—all the data and deliverables—of the two years of work to AbbVie, which had 90 days to make a decision. Thanks to a proactive approach with much of the ground already laid, the review was quick and internal alignment secured. Within two weeks it informed BioArctic that it would exercise its license option bringing the alliance to a succ...