NORTH CHICAGO, Ill., March 19, 2015 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced that it has entered into an exclusive worldwide license agreement with C2N Diagnostics, a privately held protein diagnostic and therapeutic discovery company, to develop and commercialize a portfolio of anti-tau antibodies for the treatment of Alzheimer's Disease and other neurological disorders. This partnership builds upon AbbVie's commitment to pursue transformational disease-modifying therapies in Alzheimer's Disease.
Tau stabilizes proteins that are responsible for the structure and transport in neuronal cells. Abnormal accumulation of altered tau protein is a leading indicator in a variety of neurodegenerative conditions including Alzheimer's Disease, Progressive Supranuclear Palsy and Corticobasal Degeneration. In these conditions, the development of tau pathology strongly correlates with clinical disease progression.
"The need for new approaches and therapies to address Alzheimer's disease is critical," said Jim Sullivan, Ph.D., vice president, pharmaceutical discovery, AbbVie. "C2N's portfolio of anti-tau antibodies represents one of the most promising approaches to delaying progression of devastating neurodegenerative disease. Combining the world class expertise in Alzheimer's Disease at C2N with AbbVie's proven capabilities in neuroscience will enable the rapid advancement of anti-tau antibodies into patients."
Financial terms of the collaboration were not disclosed.
AbbVie is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. The company's mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world's most complex and serious diseases. AbbVie employs more than 26,000 people worldwide and markets medicines in more than 170 countries. For further information on the company and its people, portfolio and commitments, please visit www.abbvie.com. Follow @abbvie on Twitter or view careers on our Facebook or LinkedIn page.
About C2N Diagnostics
C2N Diagnostics, LLC (www.c2ndiagnostics.com) was formed by scientific co-founders Drs. David Holtzman and Randall Bateman of Washington University School of Medicine in St. Louis, MO and LifeTech Research, a Maryland-based technology research and venture development firm (www.lifetechresearch.com). C2N is commercializing a suite of biomarker assays and tools to enable drug discovery, clinical drug development at lower risk and cost, and early detection of debilitating neurodegenerative disorders. The company's products include the SILK-Aβ®, SILK-ApoE™, SISAQ-Aβ™, and SISAQ-Tau™ Assays, which rely upon stable isotope labeling and mass spectrometry for the measurement of the kinetics, or in vivo metabolism, and quantitation of brain derived proteins. Beyond Alzheimer's Disease, products are in development to target Parkinson's Disease, traumatic brain injury, schizophrenia and Amyotrophic Lateral Sclerosis, among other conditions. For additional information, please contact email@example.com or call 1-877-C2N-DIAG (1-877-226-3424).
Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," in AbbVie's 2014 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.