Karolinska Development portfolio company BioArctic enters into Collaboration with AbbVie for Parkinson's Disease Research
September 20 2016 - 3:48AM
Karolinska Development AB (Nasdaq Stockholm: KDEV)
announces that its portfolio company BioArctic AB has entered into
a strategically important collaboration with AbbVie (NYSE: ABBV), a
global biopharmaceutical company, to develop and commercialize
BioArctic's portfolio of antibodies directed against
alpha-synuclein for the treatment of Parkinson's disease and other
potential indications.
Parkinson's disease is the second most-common neurological
disease, affecting more than 10 million people worldwide. Mutations
in alpha-synuclein are strongly linked to development of
Parkinson's disease. Soluble aggregates of the alpha-synuclein
protein are toxic to neurons and lead to the deposits that are a
hallmark of the disease.
"AbbVie has shown a strong commitment to Parkinson's disease and
I am proud that they have chosen to collaborate with BioArctic. I
am looking forward to a successful partnership that hopefully will
result in a new innovative disease modifying treatment becoming
available to the large number of patients suffering from
Parkinson's disease," said Gunilla Osswald, CEO at BioArctic.
For further information, please contact: Jim
Van heusden, CEO, Karolinska Development AB Phone: +46 72 858 32
09, e-mail: jim.van.heusden@karolinskadevelopment.com
Christian Tange, CFO, Karolinska Development AB Phone:
+46 73 712 14 30, e-mail:
christian.tange@karolinskadevelopment.com
David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk
TO THE EDITORS
About BioArctic
BioArctic AB is a Swedish privately held research-based
biopharmaceutical company founded in 2003. The company's mission is
to provide new and effective treatments for patients with disorders
in the central nervous system. Its proprietary technology and
dedicated personnel have made it possible to develop new
immunotherapeutic approaches to neurodegenerative diseases. We
focus on therapy areas with a large medical need such as
Alzheimer's disease, Parkinson's disease and spinal cord injury.
For further information on BioArctic and its research, please visit
www.bioarctic.se.
About AbbVie
AbbVie is a global, research-based biopharmaceutical company
formed in 2013 following separation from Abbott Laboratories. The
company's mission is to use its expertise, dedicated people and
unique approach to innovation to develop and market advanced
therapies that address some of the world's most complex and serious
diseases. Together with its wholly-owned subsidiary, Pharmacyclics,
AbbVie employs more than 28,000 people worldwide and markets
medicines in more than 170 countries. For further information on
the company and its people, portfolio and commitments, please visit
www.abbvie.com. Follow @abbvie on Twitter or view careers on our
Facebook or LinkedIn page.
About Karolinska Development AB Karolinska
Development AB is an investment company focused on identifying
medical innovation and investing in the creation and growth of
companies developing these assets into differentiated products that
will make a difference to patients' lives and provide an attractive
return on investment.
Karolinska Development has access to world-class medical
innovations at the Karolinska Institutet and other leading
universities and research institutes in the Nordic region. The
Company aims to build companies around scientists who are leaders
in their fields, supported by experienced management teams and
advisers, and co-funded by specialist international investors, to
provide the greatest chance of success.
Karolinska Development has established a portfolio of 10
companies targeting opportunities in innovative treatment for
life-threatening or serious debilitating diseases.
The Company is led by a team including investment professionals
with strong venture capital backgrounds, experienced company
builders and entrepreneurs, with access to a strong global
network.
For more information, please visit
www.karolinskadevelopment.com
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