Abbott has entered into an agreement to acquire the global rights to PanGenetics’ PG110, a fully humanised antibody to Nerve Growth Factor (NGF). The move would expand the company’s pain care portfolio and help leverage its expertise in biologics.
PG110 is a novel biologic in phase I clinical trial development that targets NGF for the treatment of chronic pain. NGF is released at sites of tissue damage and inflammation, and plays a significant role in the transmission of pain signals by the central nervous system.
The company said that PG110 is currently being studied in a phase I clinical trial in patients with osteoarthritis. If the phase I trial is successful, Abbott anticipates evaluating the compound in a number of other pain states, including chronic lower back pain, cancer pain and diabetic neuropathic pain.
The company added that the new NGF inhibitor complements Abbott’s robust early-stage pipeline of candidates in development for chronic pain, which spans multiple mechanisms, including vanilloid cellular receptors (TRPV1), cannabinoid receptors (CB2), Histamine H3 receptors and preclinical work on a number of promising ion channel targets.
Reportedly, the agreement includes an upfront payment of $170m plus additional milestone payments, for a total of up to $190m. This transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of 2009.
John Leonard, senior vice president of global research and development at Abbott, said: “The goal for treatment of chronic pain continues to be potent, long-lasting analgesia that is tolerable for patients without the potential for dependence and abuse. NGF blockers have demonstrated the potential to address all of these needs, making them a promising treatment for chronic pain patients.”