AbbVie funds Mitokinin’s Parkinson’s research with option to buy

pharmafile | March 3, 2021 | News story | Research and Development AbbVie, Mitokinin, Parkinson's 

AbbVie has landed an option to buy neurodegenerative disease-focused biotech Mitokinin following completion of investigational new drug (IND)-enabling studies on its lead PINK1 compound.

Based on technology discovered at University of California San Francisco by Mitokinin co-founders Nicholas Hertz and Kevan Shokat, Mitokinin moved into MBC BioLabs San Francisco in 2017 with series A funding from a syndicate led by Mission BioCapital.   

The company’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. By increasing PINK1 activity, Mitokinin aims to address the mitochondrial dysfunction contributing to Parkinson’s disease pathogenesis and progression.

Under the terms of the agreement, Mitokinin will receive an upfront payment from AbbVie, and will continue developing its PINK1 activator programme through completion of IND-enabling studies for its lead compound. No financial details have been disclosed.

Daniel de Roulet, Co-Founder and CEO at Mitokinin, said: “We’re thrilled to be working with the world-class neuroscience team at AbbVie to bring our PINK1 programme forward.

“We look forward to executing on the collaborative research plan, and most of all, to developing much needed therapeutics for Parkinson’s disease patients.”

Nicholas Hertz, Mitokinin’s Co-Founder and CSO, added: “It’s a testament to the quality of our science and the strength of our scientific team that we were able to attract a partner of AbbVie’s calibre. 

“I’m excited to continue to demonstrate the therapeutic potential of our specific PINK1 targeting compounds and to push towards the clinic with the AbbVie team.”

Darcy Jimenez

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