AbbVie (NYSE: ABBV) and the University of Toronto's SpinUp have announced Neuropeutics Inc as the recipient of the inaugural AbbVie Biotech Innovators Award, a national prize designed to foster innovation in Canada's life sciences sector. The award recognizes Neuropeutics' pioneering work in developing small molecules that prevent and reverse protein aggregation as therapeutics for neurodegenerative diseases.
Following a competitive national selection process, Neuropeutics emerged as the winner based on their novel approach to addressing protein aggregation, particularly of TDP-43, a DNA/RNA binding protein that forms toxic cytoplasmic aggregates in various neurodegenerative conditions.
"We are delighted to have this opportunity to collaborate with a global biopharmaceutical company such as AbbVie, and the University of Toronto's SpinUp, to advance Neuropeutics' therapeutic research and development across multiple neurodegenerative diseases," said Dr. Marc Shenouda, CEO & Co-Founder of Neuropeutics Inc. "At Neuropeutics, we are committed to developing targeted therapies to extend neurodegenerative disease patients' survival and improve their quality of life. This award allows us to pursue that mission with greater momentum."
The Science Behind Neuropeutics' Approach
A hallmark of neurodegenerative diseases is protein aggregation. In healthy cells, TDP-43 functions as a nuclear DNA/RNA binding protein. However, in disease conditions, it becomes mislocalized and forms cytoplasmic aggregates that cause neuronal toxicity.
Neuropeutics has developed a novel strategy to address this pathological process in multiple conditions, including:
- Amyotrophic Lateral Sclerosis (ALS)
- Frontotemporal dementia
- Alzheimer's disease
- Huntington's disease
- Parkinson's disease
The company's therapeutic approach aims to prevent and potentially reverse the formation of these toxic protein aggregates, potentially slowing or halting disease progression.
Award Benefits and Industry Impact
As the recipient of the AbbVie Biotech Innovators Award, Neuropeutics will receive:
- One year of laboratory space at no cost at SpinUp, the University of Toronto's wet lab incubator
- Access to SpinUp's core equipment and services
- Entrepreneurship programming and connections to the research talent community at the University of Toronto
- Mentorship from AbbVie's scientific and business executives
"It was impressive and motivating to see the variety of entries and the calibre of early-stage biotech companies who applied for the Award," said Rami Fayed, Vice President and General Manager of AbbVie Canada. "After a rigorous evaluation process, it is with great pleasure that we are announcing that Neuropeutics has been named the recipient of the AbbVie Biotech Innovators Award for its pioneering work in neurodegenerative diseases. We look forward to supporting the journey of Neuropeutics, in collaboration with SpinUp, to accelerate their efforts to deliver life-changing innovation to patients."
Fostering Canadian Life Sciences Innovation
The AbbVie Biotech Innovators Award was launched in 2024 in collaboration with SpinUp, a purpose-built laboratory for chemistry and biological work at the University of Toronto. The award aims to support early-stage Canadian biotechnology startup companies with the potential to generate transformational therapies in areas aligned with AbbVie's therapeutic focus: immunology, oncology, neuroscience, and eye care.
"Congratulations to Neuropeutics on being the first AbbVie Biotech Innovators Award recipient, and welcome to SpinUp – the University of Toronto's wet lab incubator," said France Gagnon, Vice-Principal, Research and Innovation at the University of Toronto Mississauga. "This is the place where the potential of Neuropeutics' work in neurodegenerative diseases can be realized and the impact on life sciences can be game changing. We are pleased to collaborate with AbbVie, a global leader in the biopharmaceutical industry, to offer this unique opportunity to this competitively chosen startup."
SpinUp is part of U of T Entrepreneurship, a network that has supported more than 1,200 capital-backed companies over the past decade, creating 17,000 jobs and raising $12 billion in external investment. The University of Toronto now launches more research-based startups than any university in North America outside of MIT.
The collaboration between AbbVie, a global biopharmaceutical leader, and the University of Toronto's SpinUp represents a significant investment in the future of Canadian biotechnology innovation, particularly in addressing the critical unmet needs in neurodegenerative disease treatment.
