July 16 (Reuters) - Sionna Therapeutics said on Tuesday

that it has acquired the exclusive rights to develop and sell

three of AbbVie's ( ABBV ) experimental therapies for cystic

fibrosis, a potentially fatal genetic condition.

WHY IT'S IMPORTANT

The licensing deal with Abbvie ( ABBV ) expands the Boston,

Massachusetts based startup's pipeline of experimental therapies

being tested to treat the genetic condition that can clog lungs

and the digestive system with mucus.

According to the National Institute of Health, nearly 40,000

children and adults in the United States and over 100,000 people

worldwide currently live with cystic fibrosis.

CONTEXT

Sionna, which is led by CEO Mike Cloonan, who has previously

held leadership roles at Sage Therapeutics ( SAGE ) and Biogen

, focuses on developing treatments targeting CFTR, a key

protein associated with worsening of cystic fibrosis.

In March, the company raised $182 million in its latest

funding round and plans to use the proceeds to conduct human

trials for its experimental treatments.

BY THE NUMBERS

Under the terms of the agreement, Sionna will develop two of

AbbVie's ( ABBV ) mid-stage experimental cystic fibrosis therapies and

one early-stage therapy.

AbbVie ( ABBV ) will receive an upfront payment, an equity investment

in Sionna, and will be eligible for late-stage development and

commercial milestones, as well as royalties.

WHAT'S NEXT

Sionna will also test its own experimental therapy,

SION-109, along with one of AbbVie ( ABBV ) therapies as a potential

combination treatment.

In preclinical studies, the combination treatment showed

the potential for superior efficacy compared to current standard

treatments.

The company expects to complete a early-stage study of

SION-109 in the second half of 2024.