PanGenetics is also entitled to up to $20 million in milestones for the NGF antibody.
Abbott will pay $170 million up front for global rights to PanGenetics’ Phase I chronic pain treatment, PG110. PanGenetics could also earn up to another $20 million in milestone payments.
PG110 is a fully humanized nerve growth factor (NGF) antibody currently in development for patients with osteoarthritis. If this Phase I trial is successful, Abbott plans to evaluate the compound in a number of other pain states including chronic lower back pain, cancer pain, and diabetic neuropathic pain.
NGF is released at sites of tissue damage and inflammation and plays a significant role in the transmission of pain signals by the central nervous system. “The goal for treatment of chronic pain continues to be a potent, long-lasting analgesia that is tolerable for patients without the potential for dependence and abuse,” explians John Leonard, M.D., svp, global R&D, Abbott. “NGF blockers have demonstrated the potential to address all of these needs, making them a promising treatment for chronic pain patients.”
This new NGF inhibitor complements Abbott’s early-stage pipeline of chronic pain candidates, which span multiple mechanisms including vanilloid cellular receptors, cannabinoid receptors, histamine H3 receptors, and ion-channel targets.