AbbVie To Acquire Capstan Therapeutics In Up To $2.1 Bln All-Cash Deal

(RTTNews) - Biopharmaceutical company AbbVie, Inc. (ABBV) and privately-held clinical-stage biotechnology company Capstan Therapeutics, Inc., announced Monday a definitive agreement under which AbbVie will acquire Capstan, including CPTX2309, a potential first-in-class in vivo tLNP anti-CD19 CAR-T therapy candidate.

AbbVie will pay up to $2.1 billion in cash at closing to acquire Capstan, subject to certain customary adjustments.

CPTX2309 is currently in Phase 1 in development for the treatment of B cell-mediated autoimmune diseases. 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.

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."

B cells contribute to the pathogenesis of autoimmune diseases.CD19 is a cell surface receptor expressed on B cells and is a clinically validated target for B cell depletion using ex vivo CAR-T cell therapy in autoimmune diseases.

CPTX2309, a product of Capstan's proprietary technology platform that includes hepatic de-targeting, delivers an mRNA payload encoding an anti-CD19 CAR preferentially to reprogram CD8-expressing cytotoxic T cells.

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.