Abbott agrees to acquire PanGenetics BV rights

Abbott announced this week that it plans to acquire the rights to a product portfolio from PanGenetics BV.

This encompasses the firm’s PG110 fully-humanised antibody to Nerve Growth Factor (NGF) and will expand the company’s pain care portfolio and leverage its expertise in the areas of biologics.

PG110 is a novel biologic that targets NGF for the treatment of chronic pain and is currently undergoing clinical testing.

NGF is released at areas of tissue damage and inflammation, playing a significant part in the transmission of pain signals by the central nervous system.

John Leonard, senior-vice president of global research and development at Abbott, stated: “The goal for treatment of chronic pain continues to be potent, long-lasting analgesia that is tolerable for patients without the potential for dependence and abuse.”

Earlier this month, Abbott announced that two of its eluting coronary stent systems received the CE mark in Europe, granting them endorsement for use in diabetes patients.