Abbott to make acquisition

LIBERTYVILLE TOWNSHIP - Abbott has announced a definitive agreement to acquire the global rights to PanGenetics BV's PG110 fully humanized antibody to Nerve Growth Factor, expanding the company's pain-care portfolio and leveraging its expertise in biologics.

PG110 is a novel biologic in Phase I clinical trial development that targets NGF for the treatment of chronic 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.

PG110 is currently being studied in a Phase I clinical trial in patients with osteoarthritis.

If the Phase I trial is successful, Abbott anticipates evaluating the compound in a number of other pain states, including chronic lower back pain, cancer pain and diabetic neuropathic pain.