- AbbVie Inc (NYSE: ABBV) has landed an option to buy Mitokinin upon completing IND-enabling studies on the latter's lead PINK1 compound for Parkinson's disease.
- 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.
- Mitokinin is based on technology discovered by Nicholas Hertz, Ph.D., and Kevan Shokat, Ph.D., at the University of California, San Francisco.
- Now, AbbVie has signed up to help Mitokinin get to the next stage in its evolution. In return for the option to buy Mitokinin, AbbVie is making an upfront payment.
- Price Action: ABBV shares are up 0.1% at $108.5 in market trading hours on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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