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AbbVie (ABBV.US) has agreed to acquire Aliada Therapeutics, a neuroscience company, for $1.4 billion.

Market IntelMonday, Oct 28, 2024 9:40 am ET

1min read

AbbVie (ABBV.US) has agreed to acquire all outstanding equity of Aliada Therapeutics, a biotechnology company focused on neuroscience, for $1.4 billion in cash.

The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions.

The deal will allow AbbVie to leverage Aliada's novel blood-brain barrier (BBB) crossing technology to enhance its neuroscience discovery and development efforts.

Aliada's lead candidate ALIA-1758 is an anti-3pE-Aβ antibody, a potential best-in-class Alzheimer's disease treatment. The company is also developing projects in other neurological diseases.

"This acquisition allows us to immediately advance ALIA-1758, a potential best-in-class Alzheimer's disease treatment, in addition to strengthening our R&D capabilities with Aliada's novel BBB-crossing technology to accelerate the development of next-generation therapies for neurological diseases and other diseases where enhanced delivery of therapeutic agents to the central nervous system is beneficial," said Dr. Roopal Thakkar, executive vice president, research and development and chief scientific officer of AbbVie.

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