US-based pharmaceutical company AbbVie has agreed to acquire Aliada Therapeutics, a biotechnology company treating neurological disorders, for a total equity value of $1.4bn.
Aliada is focused on developing advanced therapies for challenging central nervous system (CNS) diseases using its novel blood-brain barrier (BBB)-crossing technology.
Its lead candidate, ALIA-1758, an investigational anti-pyroglutamate amyloid beta (3pE-Aβ) antibody is currently in Phase 1 development for the treatment of Alzheimer’s disease.
The proposed transaction is expected to be completed in the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions.
AbbVie chief scientific officer and research and development executive vice president Roopal Thakkar said: “Neuroscience is one of our key growth areas and we are committed to driving innovation in this field to address critical unmet needs for patients living with seriously debilitating neurological diseases such as Alzheimer’s disease.
“This acquisition immediately positions us to advance ALIA-1758, a potentially best-in-class disease-modifying therapy for Alzheimer’s disease.
“In addition, Aliada’s novel BBB-crossing technology strengthens our R&D capabilities to accelerate the development of next-generation therapies for neurological disorders and other diseases where enhanced delivery of therapeutics into the CNS is beneficial.”
Aliada is developing next-generation CNS therapeutics using its advanced BBB-crossing Modular Delivery (MODEL) platform technology.
The technology has shown effect in transporting diverse therapeutic cargoes into the brain, addressing the need for effective large molecule and oligonucleotide delivery.
In 2021, US-based pharmaceutical firm Johnson & Johnson (J&J), through its venture capital arm Johnson & Johnson Innovation, RA Capital Management, and Raven co-founded Aliada.
The co-founders also jointly led the seed financing to advance the development of the MODEL platform, which was created by Johnson & Johnson scientists and licensed to Aliada.
Covington & Burling served as legal advisor to AbbVie, while Centerview Partners served as exclusive financial advisor and Fenwick & West as legal advisor to Aliada on this transaction.
Aliada Therapeutics chief medical officer Michael Ryan said: “We are pleased to announce the acquisition of Aliada by AbbVie and are excited about AbbVie’s commitment to bringing ALIA-1758 to patients with Alzheimer’s disease.
“Our proprietary MODEL platform has enabled the development of ALIA-1758, a promising step forward in brain delivery of an anti-amyloid antibody therapy.
“Many promising CNS-targeted therapies fail to reach late-stage trials due to their inability to cross the blood-brain barrier. Our MODEL platform addresses this challenge directly, efficiently delivering targeted drugs and potentially transforming how we treat neurological diseases.”
