JPM Day 1: Big bucks for bispecific

As the J.P. Morgan Healthcare Conference began, Monday’s biggest deal delivered $650 million up front for a clinical PD-1 x VEGF bispecific, with nearly $5 billion in further payments associated with milestones.

AbbVie Inc. (NYSE:ABBV) is gaining ex-Greater China rights to RC148 from RemeGen Co. Ltd. (HKEX:9995) in the agreement. The pharma plans to combine it with antibody-drug conjugates including  telisotuzumab adizutecan to treat solid tumors...