On September 17, 2024, Ripple Therapeutics announced a collaboration and option-to-license agreement with AbbVie to develop RTC-620, a next-generation, fully biodegradable, sustained release drug delivery intracameral implant with repeat dosing capabilities to reduce intraocular pressure in patients with open-angle glaucoma or ocular hypertension. This collaboration leverages AbbVie's expertise in eye care and Ripple's innovative drug delivery platform. Wilson Sonsini Goodrich & Rosati advised Ripple on the transaction.

Under terms of the agreement, Ripple will lead preclinical development of RTC-620. Upon exercise of the option, AbbVie will lead the clinical and commercialization activities. Ripple will receive an upfront payment of $21.8 million from AbbVie and is eligible to receive up to $290 million in aggregate option fees and milestones, as well as tiered royalties on net sales.

The Wilson Sonsini team that advised Ripple on the transaction includes:

Technology Transactions
Seth Flaum
Nguyen Pham

Patents and Innovations
Greg Mitchell
Jane Chen
Dylan Kahl

For more information, please see Ripple’s news release.