/PRNewswire/ AbbVie (NYSE: ABBV) announced today that it has exercised its exclusive right and completed the acquisition of Mitokinin, a discovery-stage.
Biopharma major AbbVie Inc. (ABBV) announced on Thursday that it had exercised its exclusive right and completed the acquisition of Mitokinin, a biotechnology company.
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AbbVie buys exclusive right to acquire Mitokinin’s Parkinson’s asset
Company can acquire asset following the completion of IND enabling studies
AbbVie has purchased an exclusive right to acquire Mitokinin’s lead PINK1 asset following the completion of IND enabling studies for Parkinson’s disease.
Mitokinin is based on technology discovered at the University of California, San Francisco (UCSF) by company co-founders Nicholas Hertz and Kevan Shokat.
Hertz and Shokat moved the company into MBC BioLabs San Francisco in September 2017 after a series A round led by Mission BioCapital.
The company is developing PINK1 targeted therapies for the treatment of neurodegenerative and mitochondrial diseases.
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SAN FRANCISCO, March 2, 2021 /PRNewswire/ Mitokinin, Inc., a biotechnology company developing PINK1-targeted therapeutics for the treatment of neurodegenerative diseases, announced today that AbbVie, a leading global biopharmaceutical company, has purchased an exclusive right to acquire Mitokinin following completion of IND enabling studies on Mitokinin s lead PINK1 compound. Based on technology discovered at UCSF by Mitokinin co-founders Nicholas Hertz and Kevan Shokat, Mitokinin moved into MBC BioLabs San Francisco in September 2017 with Series A funding from a syndicate led by Mission BioCapital.
Mitokinin s novel PINK1 compounds selectively increase the activity of PINK1, a master regulator of mitochondrial quality control that is genetically linked to Parkinson s disease.