AbbVie gains Parkinson’s pipeline from BioArctic

AbbVie Inc. (NYSE:ABBV) gained exclusive, worldwide rights to a pipeline of antibodies targeting α-synuclein (SNCA) to treat Parkinson’s disease for $50 million through an option exercise with BioArctic AB (SSE:BIOA B).

The deal is valued at up to $755 million, plus tiered royalties. The most advanced antibody in the portfolio is BAN0805, which is slated to enter the clinic next year. AbbVie gained the option under a 2016 deal for $80 million...