AbbVie pulls out of deal with BioArctic on alpha-synuclein portfolio
Sweden’s BioArctic (Nasdaq: Stockholm: BIO B) saw its shares fall 14.6% to 90.10 kronor today, after it revealed that US pharma major AbbVie (NYSE: ABBV) has decided to terminate its collaboration on the portfolio of alpha-synuclein antibodies, including ABBV-0805.
BioArctic and AbbVie have collaborated since 2016 regarding the research and development of BioArctic's portfolio of alpha-synuclein antibodies for Parkinson's disease and other potential indications. In 2019, a Phase I study of the lead asset, ABBV-0805, was initiated, and results from the study, presented at the International Congress of Parkinson’s Disease and Movement Disorders (MDS) in September 2021, supports a continuation into Phase II with once-monthly dosing, the company said.
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