AstraZeneca buys Link's neurodegenerative drugs
NEW YORK (AP) — British drugmaker AstraZeneca PLC said Thursday it is buying experimental treatments that show promise for being developed to treat neurodegenerative diseases like Parkinson's disease and Alzheimer's disease from Link Medicine Corp. of Massachusetts.
AstraZeneca did not disclose terms of the deal.
The company said Link Medicine's drug candidates are designed to affect autophagy, a process in which cellular proteins that have been improperly folded are cleared and recycled. Misfolded proteins have been recognized as a cause of some neurodegenerative disorders.
Shares of AstraZeneca fell 50 cents to $45.08 in afternoon trading.