AbbVie Walks Away From Collaboration With BioArctic

AbbVie has ended a multiyear research collaboration with Sweden-based BioArctic aimed at developing treatments for Parkinson’s disease and other conditions.

BioArctic has a portfolio of alpha-synuclein antibodies, including its lead investigational drug, ABBV-0805, which it hopes to advance to a phase 2 clinical trial for the treatment of Parkinson’s disease (PD). Aggregated alpha-synuclein is found in patients with PD and other neurodegenerative disorders.

“We believe that ABBV-0805 has the potential to become a disease-modifying treatment for people with Parkinson’s disease and will now investigate options to continue the development of this asset,” said BioArctic’s CEO Gunilla Osswald.

AbbVie initially made a $65 million upfront payment to BioArtic toward the collaboration, but other financial details of the deal were never disclosed.