On October 28, AbbVie and Aliada Therapeutics announced a definitive agreement under which AbbVie will acquire Aliada. Under the terms of the agreement, AbbVie will acquire all outstanding Aliada equity for $1.4 billion in cash, subject to certain customary adjustments.
Aliada Therapeutics is a biotechnology company focused on addressing delivery challenges in central nervous system (CNS) drug development. Aliada uses a novel blood-brain barrier-crossing technology to address challenging CNS diseases. Aliada’s lead investigational asset utilizing this delivery technology, ALIA-1758, is an anti-pyroglutamate amyloid beta (3pE-Aβ) antibody in development for the treatment of Alzheimer’s disease.
AbbVie Inc. is a biopharmaceutical company that discovers, develops, manufactures and sells pharmaceutical products worldwide. The company focuses on several therapeutic areas, including immunology, oncology, neuroscience, eye care, virology and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. According to its full-year 2023 financial results, the company delivered full-year net revenues of $54.3 billion, and EBITDA of $21.5 billion.
AbbVie’s legal advisor was Covington & Burling LLP. Aliada’s exclusive financial advisor was Centerview Partners LLC and Fenwick & West LLP served as legal advisor. The transaction is expected to close in Q4 2024, subject to regulatory approvals and other customary closing conditions.
This marks AbbVie’s third Biotechnology acquisition of 2024. In March, it announced the acquisition of Landos Biopharma for $137.5 million. Then, AbbVie acquired Celsius Therapeutics for $250 million in June.
According to data captured in the LevinPro HC database, this acquisition marks the 115th Biotechnology transaction of the year. There were 161 Biotechnology deals announced during 2023, and 144 announced during 2022. Additionally, the Aliada acquisition marks the 23rd largest healthcare deal announced so far this year, and the 10th largest Biotechnology deal.
