Inhibition of the SHP2 protein reduces cancer cell growth and prompts antitumor immune response, according to the firms. Jacobio has developed early-clinical-stage oral small molecules called JAB-3068 and JAB-3312 that inhibit SHP2 activity.

Under terms of the deal, Jacobio will grant AbbVie exclusive license to its SHP2 portfolio. It will continue to conduct clinical trials, for which AbbVie will cover expenses.