has signed an exclusive, collaboration and option agreement for the development and commercialisation of Caraway Therapeutics鈥� small molecule candidates to treat Parkinson鈥檚 disease and other related conditions.
The deal covers Caraway鈥檚 therapeutics that target TMEM175, a potassium ion channel required for lysosomal function associated with Parkinson鈥檚 as well as additional neurodegenerative diseases.
Mutations that cause loss of function in TMEM175 are known to decrease lysosomal efficiency in a subpopulation of Parkinson鈥檚 patients.
These mutations can occur at an earlier age of disease onset or higher dementia risk compared with idiopathic Parkinson鈥檚.
According to the collaboration agreement, Caraway will continue to work on its small molecule modulators of TMEM175. The company will use its drug discovery platform and lysosomal biology and cellular clearance mechanisms expertise.
AbbVie will contribute to the partnership via its disease biology, clinical development and global commercialisation capabilities.
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By GlobalDataAbbVie Neuroscience Discovery vice-president Eric Karran said: 鈥淭MEM175 is a compelling genetically validated target for which Caraway has developed a promising drug discovery programme.
鈥淐ollaborating with Caraway to advance TMEM175 modulators has great potential to fit with AbbVie鈥檚 efforts to develop transformative treatments for patients with neurodegenerative diseases.鈥�
In connection with the deal, AbbVie will make a $17m upfront cash payment to Caraway.
AbbVie also has an option to licence the programme and carry out the investigational new drug (IND)-enabling studies, clinical development and commercialisation after Caraway finishes some pre-clinical research and development activities.
Caraway may get up to $267m in upfront and future option payments and development milestones. It is also eligible for other regulatory and commercial milestones and royalties on worldwide sales.
The company holds the option to join in product development in exchange for higher royalty rates.
Caraway Therapeutics CEO Martin Williams said: 鈥淲e are looking forward to collaborating with AbbVie to develop novel TMEM175 modulators and bring new hope to patients suffering from Parkinson鈥檚 and other neurodegenerative disorders.鈥�
In February, AbbVie signed a collaboration and licensing agreement with Caribou Biosciences for chimeric antigen receptor (CAR)-T cell therapeutics.
