AbbVie to acquire Capstan Therapeutics for up to $2.1 billion

NORTH CHICAGO/SAN DIEGO - AbbVie (NYSE:ABBV), a prominent player in the biotechnology industry with a market capitalization of $322 billion and annual revenue of $57.37 billion, announced today it has entered into a definitive agreement to acquire clinical-stage biotechnology company Capstan Therapeutics for up to $2.1 billion in cash, subject to customary adjustments. According to InvestingPro data, AbbVie maintains a "GOOD" overall financial health score, positioning it well for strategic acquisitions.

The acquisition will give AbbVie access to Capstan’s lead asset CPTX2309, a potential first-in-class in vivo targeted lipid nanoparticle (tLNP) therapy currently in Phase 1 development for B cell-mediated autoimmune diseases. The deal also includes Capstan’s proprietary tLNP platform technology designed to deliver RNA payloads to specific cell types. With 10 analysts recently revising their earnings estimates upward and net income expected to grow this year, AbbVie continues to strengthen its product pipeline through strategic investments.

CPTX2309 delivers mRNA encoding an anti-CD19 chimeric antigen receptor (CAR) to CD8-expressing cytotoxic T cells in the body. This process reprograms these cells to target and deplete B cells without requiring lymphodepletion preconditioning or complex ex vivo manufacturing typically needed for traditional CAR-T therapies.

"Scientific innovation is required to address not just the symptoms of autoimmune diseases, but also to resolve and potentially cure the underlying disease," said Roopal Thakkar, executive vice president and chief scientific officer at AbbVie, in a statement accompanying the announcement.

The transaction strengthens AbbVie’s immunology portfolio with technology that could potentially reset the immune system in autoimmune conditions by depleting pathogenic B cells and allowing repopulation with naïve B cells.

Laura Shawver, president and CEO of Capstan, noted that the technology "has the potential to become a first-in-class platform to treat a wide range of autoimmune diseases" while offering the accessibility of an off-the-shelf biologic.

The acquisition is subject to customary closing conditions, including expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Centerview Partners LLC served as exclusive financial advisor to Capstan, with Cooley LLP providing legal counsel.

This article is based on a press release statement from the companies. For deeper insights into AbbVie’s financial health, valuation metrics, and growth potential, including over 30 key financial metrics and a comprehensive Pro Research Report, visit InvestingPro. The platform offers exclusive analysis of 1,400+ top stocks, transforming complex Wall Street data into actionable investment intelligence.

In other recent news, AbbVie announced that its migraine prevention drug atogepant showed superior results in a Phase 3 clinical trial compared to topiramate. The trial met its primary endpoint, with fewer patients discontinuing atogepant due to adverse events. Additionally, 64.1% of patients using atogepant achieved at least a 50% reduction in monthly migraine days. In another development, AbbVie declared a quarterly dividend of $1.64 per share, continuing its track record of dividend payments. The company has increased its dividend by 310% since its inception in 2013. Meanwhile, AbbVie’s venetoclax failed to meet the primary endpoint in a Phase 3 trial for treating higher-risk myelodysplastic syndrome. No new safety concerns were reported during this study. Furthermore, the FDA accepted Allergan Aesthetics’ application for a new neck line treatment, SKINVIVE by JUVEDERM, marking a potential expansion of their product offerings. Discussions within the Trump administration about new limits on pharmaceutical advertising could impact AbbVie’s marketing strategies, as regulatory changes are considered.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.