Abbvie Exercises Exclusive Option to Acquire Mitokinin, Enhancing Its Neuroscience Pipeline
Friday, October 06, 2023
AbbVie (NYSE: ABBV) has officially acquired Mitokinin, a biotech firm in the discovery phase, which has been working on a pioneering treatment for Parkinson's Disease (PD). The central focus of Mitokinin's research is its leading compound, a selective PINK1 activator, designed to target mitochondrial dysfunction—a significant factor in the onset and progression of Parkinson's disease.
PINK1 plays a crucial role in maintaining the health of the mitochondrial system by aiding in the removal of malfunctioning mitochondria. Mutations in the PINK1 gene are associated with familial forms of PD due to the loss of PINK1 function. Activating PINK1 presents a potential avenue for modifying the disease, extending beyond familial PD, by addressing mitochondrial dysfunction and enhancing mitochondrial health in sporadic PD cases.
Jonathon Sedgwick, Ph.D., Vice President and Global Head of Discovery Research at AbbVie, expressed enthusiasm about this acquisition, emphasizing the pressing need for effective Parkinson's disease treatments. He stated, "Parkinson's disease continues to be a major unmet medical need, impacting patients, caregivers, and society. With this acquisition, we are excited to grow our neuroscience portfolio and explore a potential new treatment option for PD. While current PD treatments may alleviate the symptoms of parkinsonism, there are currently no available therapies that prevent progression of the disease. Targeting PINK1 offers a novel approach that may alter disease pathogenesis."
Daniel de Roulet, Co-Founder and CEO of Mitokinin, highlighted the value brought by AbbVie's Neuroscience and External Innovation teams in accelerating their research program towards investigational new drug (IND) enabling studies.
Addressing the challenge of developing selective, brain-penetrating PINK1 activators for therapeutic use in PD, Nicholas Hertz, Ph.D., Co-Founder and Chief Scientific Officer of Mitokinin, shared their preclinical findings, stating, "Our pre-clinical data demonstrate that our PINK1 activator compound can selectively enhance the active-form of PINK1, which is found on damaged mitochondria, without impacting PINK-1 regulation broadly. We believe this approach could potentially deliver significant clinical benefit to Parkinson's patients."
As part of the acquisition agreement, AbbVie will provide $110 million to Mitokinin shareholders upon completion, with additional payments of up to $545 million contingent on the achievement of specific developmental and commercial milestones related to the success of the PINK1 program. Mitokinin shareholders will also receive tiered royalties based on net sales.
