Benzinga | Aug 9, 2021 01:50PM EDT

AbbVie, Mission Therapeutics Pick Alzheimer's & Parkinson's Targets In Neurodegenerative Disease Collaboration

* AbbVie Inc (NYSE:ABBV) has advanced its collaboration with privately-held Mission Therapeutics, with the nomination of two DUB targets to take into the next stage of drug discovery.

* This selection follows supportive data from in vitro and in vivo Alzheimer's and Parkinson's disease models.

* The $20 million is part of an undisclosed set of milestones AbbVie committed to pay Mission through the partnership in 2018. AbbVie entered into the collaboration to access Mission's expertise in deubiquitylating enzymes (DUBs).

* The enzymes regulate the degradation of proteins, including the amyloid-beta and alpha-synuclein molecules implicated in Alzheimer's and Parkinson's.

* AbbVie is yet to share details of the DUB targets that will advance through the Mission partnership.

* Price Action: ABBV shares are down 0.59% at $113.78 during the market session on the last check Monday.