Pharma giant AbbVie has moved to enhance its neuroscience pipeline by exercising its exclusive right to acquire Mitokinin, a biotechnology company working on a novel treatment for Parkinson’s disease. Mitokinin’s lead compound, a selective PINK1 activator, is designed to target mitochondrial dysfunction, which is considered to be a key factor in both the development and progression of Parkinson’s.
As part of the acquisition agreement, AbbVie will make an initial payment of $110 million to Mitokinin shareholders upon closing. Shareholders stand to receive additional payments of up to $545 million, contingent on the achievement of specific development and commercial milestones related to the success of the PINK1 program.
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