AbbVie Acquires Mitokinin for Over $650 Million to Advance First-in-Class PINK1 Activator for Parkinson’s Disease

▎WuXi

Edited by Kant Content Team

AbbVie today announced that it has exercised its exclusive right to complete the acquisition of Mitokinin for over $650 million.Mitokinin's main project is a selective PINK1 activator aimed at addressing mitochondrial dysfunction to alleviate Parkinson's disease (PD).

PD is the second most common neurodegenerative disease in the world. Patients experience non-motor symptoms such as mental and behavioral changes, sleep problems, depression, memory difficulties, and fatigue; they also develop motor symptoms caused by the loss of dopamine neurons in the brain, including involuntary or uncontrollable movements (dyskinesia), tremors, stiffness, and difficulty with balance and coordination, which worsen over time.

Mitokinin is a discovery-stage biotechnology company developing a potential “first-in-class” therapy for Parkinson’s disease. Founded in 2013, Mitokinin is based on technology discovered by its scientific co-founders, Dr. Nicholas Hertz and Dr. Kevan Shokat, professors at the University of California, San Francisco (UCSF). Investors include Mission BioCapital, Pfizer Ventures, and Samambaia Investments.

▲PINK1 is the key to maintaining a healthy mitochondrial system (Image Source: Mitokinin's official website)

By promoting the renewal of dysfunctional mitochondria, PINK1 plays a key role in maintaining a healthy mitochondrial system.Mutations in PINK1 and loss of PINK1 function are associated with the occurrence of familial PD.By addressing mitochondrial dysfunction and improving mitochondrial health in sporadic PD, the activation of PINK1 offers a potential disease-modifying therapy.

According to the terms of the agreement,AbbVie to Pay Mitokinin $110 Million Upfront, and upon achieving certain development and commercial milestones related to the successful implementation of the PINK1 project,Mitokinin is eligible to receive up to $545 million.