Small biotech Infinity Pharmaceuticals (INFI) agreed to develop its blood cancer drug duvelisib, currently in trial stage, with big pharma AbbVie (ABBV). The deal includes an upfront payment of $275 mil to Infinity, and up to $530 mil in milestone payments. Infinity also agreed to test duvelisib with Roche's (RHHBY) Gazyva, approved in '13 to treat chronic lymphocytic leukemia. Infinity shares rocketed 44.1% to 15.73. AbbVie rose 0.8% to 55.51 and Roche rose 0.6% to 36.76.
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