On a continued hunt for Parkinson's breakthroughs, AbbVie turns to a biotech in its portfolio
Two and a half years ago, AbbVie’s venture arm quietly co-led a $23 million Series A for Rheostat Therapeutics, mostly betting on the idea of restoring clearance pathways that are central to getting toxic substances out of cells — and the scientific team that promised to do it.
It’s now zeroed in on a specific program to bring into the fold.
The biotech, which has since renamed itself Caraway Therapeutics, is pocketing $17 million upfront to kick off a collaboration where it will complete the preclinical work and then offer up a slate of potential candidates for AbbVie to license if they so choose. Specifically, these would be agonists of TMEM175 — or transmembrane protein 175 — an ion channel involved in getting potassium out of the lysosome, thereby maintaining the right pH levels the organelle needs to work properly.
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