AbbVie Inc (NYSE:ABBV) and private pharmaceutical company Principia have announced collaborative efforts aimed at the development of oral immunoproteasome inhibitors.
AbbVie entered into a thecollaborative deal with Principia so that they can maximize their research and development of the inhibitors. These are best-in-class oral therapies designed to optimize the power of proteasome inhibition and safely incorporate it into immunology. An immunoproteasome is a specific category of proteasome that is commonly found in immune cells. It is made up of several proteolytic subunits that have specialized roles in protein processing for recognition by the immune system.
The main agenda for AbbVie’s collaboration with Principia
The aim of the partnership between AbbVie and Principia in the oral immunoproteasome project is to create and develop selective inhibitors that are orally bioavailable. The inhibitors will be part of the immunoproteasome subunits and they will be used to fight autoimmunity. Principia was ideal for the joint venture because it is a clinical-stage biopharma.
“As a world leader in immunology and inflammation, AbbVie is an ideal fit for Principia’s reversible covalent inhibitors, also known as Tailored Covalency™. This collaboration brings together the best of both companies, accelerating our program toward the clinic,” stated Principia’s chief executive officer, Martin Babler.
The two companies will combine their resources so that they can work together on the pre-clinical studies. Once the project is completed successfully, AbbVie will take over the clinical development phase as well as the commercialization of the products resulting from the joint efforts of both firms. So far the financial details have not been disclosed. However, AbbVie is expected to share the proceeds with Principia if the whole project ends up being a success. Financial details will most likely be disclosed in the future. The joint project is expected to offer each company some insights on the bio-technology employed by the other. Such insight might end up being useful and the immunoproteasome end products are expected to be game-changing for the industry.
AbbVie stock closed the latest trading session on Tuesday at $69.67 after gaining by 0.20 percent compared to the value of the stock during the previous close.