The portfolio includes antibodies targeting pathological species of α-synuclein.
The research, development, option and license agreement that Swedish biopharma company BioArctic signed with drugmaker AbbVie in September 2016 is bearing fruit. The company has received clearance from the U.S. Federal Trade Commission (FTC) to out-license its α-synuclein antibody portfolio.
The original agreement focused on the development and commercialization of BioArctic’s antibody products targeting pathological species of α-synuclein for potential indications, including Parkinson’s. α-Synuclein gene mutations are believed to be associated with the development of Parkinson’s in certain patients who suffer from an inherited form of the condition.
BioArctic’s lead candidate is the α-synuclein antibody BAN0805, which is being developed as a disease-modifying therapy for Parkinson’s. The candidate, now referred to as ABBV-0805, will be taken into clinical development by AbbVie, with the first trial to be conducted in 2019. BioArctic will continue with other development activities outlined in the initial agreement.
The total value of the initial agreement is approximately $755 million, with additional royalties; AbbVie previously paid BioArctic $80 million. AbbVie’s choice to exercise its option will trigger an additional milestone payment of $50 million.