Aldeyra grants AbbVie exclusive option to co-develop reproxalap; $1M upfront, $100M upon exercise

Aldeyra Therapeutics, Inc.

AbbVie pays $1M non-refundable option fee; can extend option for $5M if FDA decision delayed past Dec 15, 2023.
Upon exercise, AbbVie pays $100M upfront (less prior payments); Aldeyra eligible for up to ~$300M in regulatory and commercial milestones.
In the US, profits/losses split 60% AbbVie, 40% Aldeyra; outside US, Aldeyra receives tiered royalties on net sales.
AbbVie gets right of first negotiation on Aldeyra's other ocular surface compounds and data review rights.
Option expires Dec 23, 2023 if not exercised or extended; tied to FDA decision on reproxalap NDA.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.85

Aldeyra Therapeutics, Inc. entered into Option Agreement with AbbVie Inc. valued at $1 million (effective 2023-10-31).

Action: entry
Agreement: collaboration
Counterparty: AbbVie Inc.
Value: $1 million
Effective: 2023-10-31

Exact text from the filing

On October 31, 2023 (the “Effective Date”), Aldeyra Therapeutics, Inc. (“Aldeyra” or the “Company”) entered into an exclusive option agreement (the “Option Agreement”) with AbbVie Inc. (“AbbVie”)

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Aldeyra Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-267697

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