AbbVie, an American traded bio-pharmaceutical company has made significant progress in the last couple of years while bringing on new players into their team. With several different areas of focus, AbbVie has 6 therapeutic areas in which they have partnership deals.
AbbVie values its partnerships and is very strategic in who they choose to partnership with. The company partners to achieve two outcomes: delivering medicines that are innovative and making significant impacts on the lives of many people.
AbbVie is critical when it comes to the partnerships they make. The company looks and reaches out to partners in which they can create long-term mutually beneficial relationships. This article will discuss 5 awesome partnerships that AbbVie has forged last year.
Who is AbbVie?
Founded in 2013, AbbVie is an American publicly traded biopharmaceutical company with its headquarters in North Chicago, Illinois, United States. The company currently has over 30,000 employees who are researchers, scientists, manufacturing specialists, communicators, and regulatory experts who are located all over the world. AbbVie comes up with new approaches to address the health issues in today’s society, from a range of life-threatening illnesses to chronic conditions.
AbbVie works with many different companies to target specific diseases in order to advance science. With the use of artificial intelligence (AI), AbbVie is able to further develop treatments in the healthcare industry. One example in which AbbVie used AI was in its partnership with Mission Therapeutics (more on this below). AbbVie focuses on creating solutions that go beyond treating the illness and create positive impacts on the lives of many patients.
For AbbVie, research and innovation drives the company as they focus on advancing leading-edge science through collaborative approaches. The company currently focuses on discovering, developing, and delivering drugs in therapeutic areas, such as neuroscience, virology, oncology, general science, and immunology. With collaboration, AbbVie is able to leverage other unique platforms in order to develop drugs and focus on research and innovation.
Keep reading to find out about the amazing partnerships that AbbVie collaborated with in 2018.
AbbVie and its Unique Partnerships
AbbVie focuses on five different things that allow them to as successful as they are. These five things include the following: making an impact on patients, finding solutions to the world’s most challenging problems to advance science, being passionate about their work and responsible for the actions they take, fostering innovation and discovery, and working together with other companies to make a difference. Collaboration is probably one of the most important ones as it allows the company to leverage resources and knowledge from others.
Below are 4 of the amazing partnerships that AbbVie has forged in the past year…
1. Collaboration with Mission Therapeutics
AbbVie collaborated with Mission Therapeutics, which is a drug creation company, for research and preclinical development in order to find potential therapies to treat Parkinson’s disease and Alzheimer’s disease, with the help of artificial intelligence technology. This collaboration combines Mission Therapeutics’ unique science and chemistry prosperity enzyme platform along with AbbVie’s strong research in neurodegenerative disease and its commercialization capabilities.
Alzheimer’s and Parkinson’s are both characterized by their toxic proteins that result in the impairment function of the brain. AbbVie and Mission Therapeutics will focus on creating compounds that target deubiquitylating enzymes (DUBs) which are enzymes responsible for keeping the cell healthy.
In this agreement, AbbVie and Mission Therapeutics will collaborate together to identify the DUBs and advance research and innovation. No financial details were disclosed regaring this collaboration but both parties will collaborate during the research stage in identifying specific DUBs. Mission Therapeutics already has incredible early research towards the two diseases and with the help of AbbVie and its platform, they hope to find effective treatments.
2. Partnership with Mavyret
Mavyret is a type of drug that combines glecaprevir and pibrentasvir. It was approved by the U.S. Food and Drug Administration (FDA) for its treatment of chronic hepatitis C virus (HCV). The Mavyret and AbbVie partnership has brought hope of new cures to people living with hepatitis C in Canada. Mavyret is designed to deliver virological cures for patients living with HCV, and AbbVie strives to continue the work with local health authorities across Canada to get this treatment out to patients as soon as possible.
3. Collaboration with the International Myeloma Foundation (IMF)
In March 2018, AbbVie collaborated with the International Myeloma Foundation (IMF) in order to perform studies to gain insights into multiple myeloma (MM) to help better manage the disease. MM is a type of common blood cancer that affects plasma cells in the bone marrow which can lead to tumors.
With the partnership, AbbVie and IMF will focus on finding out the unknown role of genetic mutations in response to the associated patient outcomes. With the studies they perform, it will have the potential to provide valuable evidence that can help to advance the care of patients. The objective of this study will be to study the overall survival and response rates of the disease. The study will also gather and monitor prognostic factors for the survival of the disease.
With the help of IMF researchers, AbbVie will further advance the efforts in the research and education in multiple myeloma.
4. Collaboration with Morphic Therapeutic
In October 2018, AbbVie and Morphic Therapeutics formed a collaboration that leverages Morphic Therapeutic and its platform for developing oral integrin drugs and AbbVie’s global development capabilities. Morphic Therapeutics is a biotechnology company that focuses on developing oral integrin therapies and announced that it has collaborated with AbbVie to advance a number of Morphic’s oral integrin therapeutics that include fibrosis indications.
Fibrosis is the chronic inflammation or persistent injurities that leading to the development of excess connective tissue. This can often lead to organ damage and impaired functions of nearly all tissues and organ systems and without treatment, it can cause illness and even death.
Morphic Therapeutic has a unique platform in which they design integrin orgal inhibitors to block TGF-B activation which is a key approach to reversing fibrosis.
This agreement involved an upfront payment of $100 million by AbbVie for licensing purposes to exercise its options and assume responsibility for global development and commercialization.
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