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Abbott has entered into a definitive agreement to acquire the global rights to PanGenetics BV's PG110 fully humanized antibody to Nerve Growth Factor (NGF).
November 13, 2009
By: Tim Wright
Editor-in-Chief, Contract Pharma
Abbott has entered into a definitive agreement to acquire the global rights to PanGenetics BV’s PG110 fully humanized antibody to Nerve Growth Factor (NGF). The agreement includes an upfront payment of $170 million plus additional milestone payments, for a total of $190 million, as well as royalties. PG110 is a biologic in Phase I development 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...
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