CAMBRIDGE, UK – 16 September 2019 – Mission Therapeutics (“Mission”), a drug discovery and development company focused on selectively inhibiting deubiquitylating enzymes (DUBs), announced today that its collaboration with research-based global biopharmaceutical company, AbbVie (“AbbVie”)(NYSE: ABBV), has been shortlisted for the 2019 Scrip Best Partnership Alliance Award.
Mission and AbbVie are working together in the research and preclinical development of DUB inhibitors for the treatment of Alzheimer’s and Parkinson’s diseases. As the most common forms of neurological disorder, over 50 million people worldwide are living with dementia and Alzheimer’s, and 10 million more with Parkinson’s.
Under the terms of the agreement, the Companies will collaborate to identify specific DUBs of interest and discover suitable inhibitor compounds. AbbVie will then have the option to gain exclusive rights to develop and commercialise compounds against up to four selected targets.
Dr. Anker Lundemose, Chief Executive Officer at Mission, commented:
“It is an honour that our collaboration with AbbVie has been selected as a finalist for the Best Partnership Alliance Award by the expert panel. Partnering with AbbVie has been instrumental for our research and we are pleased that our work with them is being recognised within the industry. We look forward to attending the ceremony and celebrating the huge progress that has been made across the pharmaceutical and biotech industries this year.”
The winners of the 2019 Scrip Awards will be announced at the awards dinner on 4 December in London.
FOR MORE INFORMATION:
|Mission Therapeutics Ltd
Anker Lundemose MD PhD
Chief Executive Officer
T: +44 (0) 1223 607340
Melanie Toyne-Sewell / Eileen Paul
T: +44 (0) 20 7457 2020
NOTES TO EDITORS:
About Mission Therapeutics
Mission Therapeutics is an early-stage drug development company targeting the ubiquitin pathway for the treatment of neurodegenerative disease, rare mitochondrial diseases and fibrosis. The Company has built a leading platform for the discovery and development of first-in-class, small molecule drugs that selectively target deubiquitylating enzymes (DUBs) – an emerging drug class that is attracting significant commercial interest in the area of protein homeostasis.
In November 2018, Mission Therapeutics and AbbVie entered into a collaboration in the research and preclinical development of specified DUB inhibitors for the treatment of Alzheimer’s Disease and Parkinson’s Disease. Mission has strong links with key academic and research centers, including Prof. Steve Jackson’s Cancer Research UK Laboratories at the University of Cambridge Gurdon Institute, and leading UK centres in neurodegenerative diseases. The Company is managed by a team with broad international, commercial and clinical-science experience.
In February 2016, the Company completed an $86m financing that was led by Imperial Innovations (now part of IP Group) and Woodford Patient Capital Trust and included participation from existing investors Sofinnova Partners, Roche Venture Fund, Pfizer Venture Investments and SR One. Mission Therapeutics was founded in 2011 and is based at the Babraham Research Campus, Cambridge, UK.