Plexium and AbbVie Team Up for Neurological Drug Development

San Diego, Calif.-based Plexium and AbbVie have inked a collaboration deal aimed at developing novel targeted protein degradation (TPD) drugs for the treatment of neurological conditions.

The companies aim to combine Plexium’s TPD screening technology with AbbVie’s neuroscience capabilities to develop drugs for challenging drug targets.

Under the terms of the collaboration, Plexium will conduct preclinical research to identify targets and AbbVie has the option to select programs for additional research and development activities.

In addition to an undisclosed upfront payment, Plexium could receive future payments of more than $565 million, the companies said.