AbbVie acquires Parkinson's disease drug developer Mitokinin

06 Oct 2023
firstwordpharma.com
AcquisitionDrug Approval
AbbVie announced Wednesday that it has completed the acquisition of partner Mitokinin, gaining the latter's PINK1 activator under development to address the mitochondrial dysfunction that is believed to be a major contributor in Parkinson's disease pathogenesis and progression.
"While current Parkinson's disease treatments may alleviate the symptoms of parkinsonism, there are currently no available therapies that prevent progression of the disease," remarked Jonathon Sedgwick, global head of discovery research at AbbVie. He said targeting PINK1 could offer a novel approach.
AbbVie agreed in 2021 to help advance Mitokinin's PINK1 activator programme through a deal that included an exclusive option to buy the company upon completion of investigational new drug (IND)-enabling studies for its lead compound, which facilitates the turnover of dysfunctional mitochondria.
$545 million in potential milestones
Mutations in PINK1 are associated with a loss of PINK1 function and cause familial forms of Parkinson's, while activating PINK1 may offer up a disease-modifying approach that could extend to improving mitochondrial health in sporadic Parkinson's disease. However, the challenge has been to develop selective, brain penetrant PINK1 activators for therapeutic use, the companies said.
"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," explained Nicholas Hertz, chief scientific officer at Mitokinin.
Under the deal, Mitokinin shareholders receive $110 million at closing, and are eligible for up to $545 million upon the achievement of certain milestones related to the company's PINK1 programme, plus tiered royalties. Mitokinin launched in 2013 based on technology discovered at University of California, San Francisco, and its backers include Mission BioCapital, Pfizer Ventures and Samambaia Investments.
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