Mission Therapeutics earns $20m milestone payment from AbbVie in Alzheimer’s and Parkinson’s collaboration
Mission Therapeutics will receive a $20million milestone payment from AbbVie after two targets progressed to the next stage of drug discovery in their neurodegenerative disease collaboration.
The Babraham Research Campus company is working with global biopharmaceutical firm to identify novel deubiquitylating enzyme (DUB) targets and discover associated inhibitor compounds.
The selection of two targets follows promising data from in vitro and in vivo Alzheimer’s and Parkinson’s disease models.
Both these diseases are associated with the accumulation of misfolded proteins in the brain.
DUBs help to maintain cell health by regulating the degradation of proteins.
Dr Anker Lundemose, Mission’s CEO, said: “We are delighted to have reached this next major milestone in our collaboration with AbbVie and receive the $20million milestone – this represents a big step forward for Mission and further highlights DUBs as targets for drug development.
“The successful and timely progression of two DUB targets into the drug discovery phase is further validation of our platform. We look forward to the continuation of this great neurodegenerative disease collaboration.”
Dr Eric Karran, vice president, neuroscience discovery research, at AbbVie, added: “There is an urgent need for treatments that can make tangible and lasting improvements to the lives of Alzheimer’s and Parkinson’s patients. Our collaboration with Mission has the potential to identify novel therapeutic options for neurodegenerative disorders.
“We have had a great experience working with Mission and are pleased to be able to continue to draw on their valued expertise as we enter the next phase of drug development.”
Under the terms of the collaboration, announced in 2018, AbbVie has the option to gain exclusive rights to develop and commercialise inhibitors of selected DUB targets and will pay Mission success-based milestones as well as royalty payments for each product that enters the market.
Sign up for our weekly newsletter to stay in touch with Cambridge life science