AbbVie exercises right to acquire Mitokinin

US pharma major AbbVie (NYSE: ABBV) has exercised its exclusive right and completed the acquisition of Mitokinin, a discovery-stage biotechnology company developing a potentially first-in-class disease-modifying treatment for Parkinson's disease (PD).

Mitokinin's lead compound, a selective PINK1 activator, is designed to address mitochondrial dysfunction that is believed to be a major contributing factor to Parkinson's disease pathogenesis and progression.

In 2021, AbbVie agreed to help advance Mitokinin's PINK1 activator program through a deal that included an exclusive option to buy the company.