AbbVie to acquire Capstan Therapeutics for up to $2.1B in cash

AbbVie (NYSE:ABBV) has agreed to acquire clinical-stage biotechnology company Capstan Therapeutics for up to $2.1 billion in cash.

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

Capstan’s initial focus is on developing in vivo CAR-T therapies designed to combine the potency of CAR-T therapy with the convenience of an off-the-shelf product for the treatment of autoimmune diseases.

Its lead asset, CPTX2309, is a potential first-in-class product for treating B cell-mediated autoimmune diseases. This in vivo targeted lipid nanoparticle anti-CD19 CAR-T therapy candidate is currently in Phase 1 development.

Additionally, AbbVie will acquire Capstan’s proprietary tLNP platform technology designed to deliver RNA payloads, such as mRNA, capable of engineering specific cell types in vivo.

Roopal Thakkar, executive vice president, research and development and chief scientific officer, AbbVie, said “By advancing CPTX2309 and utilizing Capstan’s novel platform technology, AbbVie and Capstan aim to transform the care of those living with autoimmune diseases by developing treatments that have the potential to reset the immune system.”