AbbVie (NYSE: ABBV), Chicago, IL-based acquired Aliada Therapeutics, a Boston, MA-based biotechnology company focused on central nervous system (CNS) diseases.
The amount of the deal was not disclosed.
AbbVie will acquire all outstanding Aliada equity for $1.4 Billion in cash, subject to certain customary adjustments. This transaction is expected to close in 4Q2024.
Aliada Therapeutics is a biotechnology company focused on addressing delivery challenges in CNS drug development. It is developing next-generation CNS therapeutics with its novel BBB-crossing Modular Delivery (MODEL™) platform technology, which has been shown to efficiently transport diverse therapeutic cargoes into the brain, enhancing effectiveness and addressing the critical need for efficient and versatile large molecule and oligonucleotide delivery. Its lead compound, ALIA-1758, an anti-pyroglutamate amyloid beta (3pE-Aβ) antibody, is a potential best-in-class therapy for Alzheimer’s disease.
Johnson & Johnson (through its venture capital arm, Johnson & Johnson Innovation – JJDC, Inc.), RA Capital Management, and Raven (RA Capital Management’s incubator) co-founded Aliada and co-led the series seed financing in 2021 to advance the MODEL™ platform created by Johnson & Johnson scientists that was licensed to Aliada at its inception. Further investment was made by OrbiMed and Sanofi Ventures.
FinSMEs
28/10/2024