AbbVie agreed an exclusive license with China’s RemeGen for RC148, a PD‑1/VEGF‑targeted bispecific antibody, paying $650 million up front and reserving up to $4.95 billion in milestones. The deal grants AbbVie ex‑China development, manufacturing and commercialization rights and leaves RemeGen with Greater China rights. Company statements and conference disclosures indicate AbbVie plans to pair RC148 with its antibody‑drug conjugate and other oncology assets to expand combination strategies.