AbbVie to Acquire Capstan Therapeutics for $2.1B, Boosting Autoimmune Pipeline

AbbVie Inc. (NYSE:ABBV) is one of the most undervalued large cap stocks to buy according to analysts. On June 30, AbbVie announced its intention to acquire Capstan Therapeutics in a deal valued at up to $2.1 billion in cash. The acquisition will expand AbbVie’s product pipeline, particularly in experimental treatments for autoimmune diseases.

Capstan Therapeutics Inc. is a clinical-stage biotechnology company that specializes in developing CAR-T therapies. These therapies use a patient’s immune cells, specifically T-cells, to combat diseases. The lead asset is CPTX2309, which is currently in early-stage (Phase 1) clinical development for B-cell-mediated autoimmune diseases.

AbbVie will also acquire Capstan’s CellSeeker tLNP platform technology, which is designed to deliver RNA payloads, such as mRNA, to engineer cell types in vivo. AbbVie is already projected to make over $31 billion in sales by 2027 with its autoimmune drugs Skyrizi and Rinvoq combined.

AbbVie Inc. (NYSE:ABBV) is a research-based biopharmaceutical company that researches, develops, manufactures, commercializes, and sells medicines and therapies worldwide.

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Disclosure: None. This article is originally published at Insider Monkey.