AbbVie Exercises Exclusive Right To Acquire Mitokinin, Further Strengthening Neuroscience Pipeline; AbbVie To Pay Mitokinin Shareholders $110M At Closing And Shareholders Remain Eligible For Potential Additional Payments Up To $545M
Portfolio Pulse from Benzinga Newsdesk
AbbVie has exercised its exclusive right to acquire Mitokinin, a move that will further strengthen its neuroscience pipeline. The deal involves a payment of $110M to Mitokinin shareholders at closing, with potential additional payments up to $545M. Mitokinin's lead compound, a selective PINK1 activator, is designed to address mitochondrial dysfunction, a key factor in Parkinson's disease.
October 05, 2023 | 12:09 pm
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AbbVie's acquisition of Mitokinin could strengthen its neuroscience pipeline and potentially lead to breakthroughs in Parkinson's disease treatment. This could boost AbbVie's stock in the short term.
The acquisition of Mitokinin, with its promising lead compound targeting Parkinson's disease, could potentially lead to significant advancements in treatment. This could increase investor confidence in AbbVie, leading to a potential rise in its stock price.
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