AbCellera and Jazz Pharmaceuticals Announce $792M+ Per Program TCE Antibody Collaboration

On June 17, 2026, AbCellera Biologics Inc. (ABCL) announced a preclinical research collaboration, option, and license agreement with Jazz Pharmaceuticals (JAZZ) to discover and develop next-generation T-cell engaging (TCE) multispecific antibodies. The partnership focuses on delivering optimized candidates for gastrointestinal (GI) cancers and other solid tumors using AbCellera's antibody discovery engine and TCE platform. Under the agreement, AbCellera will receive $56 million in upfront payments for the first two programs, with an additional $28 million due upon the initiation of a third program within 12 months. Jazz holds an exclusive option to develop and commercialize the resulting therapeutic antibodies. If Jazz exercises its options, AbCellera is eligible to receive up to $792 million per program in option fees and milestone payments (development, regulatory, and commercial), plus tiered royalties on net sales ranging from mid-single digits to low double-digits. The companies may also agree to initiate up to two additional programs beyond the initial three.