AbbVie will pay $200 million for Therapeutics, including its lead asset, an investigational oral peptide interleukin (IL)23R inhibitor in preclinical development for the treatment of psoriasis and a pipeline of other novel oral peptide candidates with potential across several autoimmune diseases.
Additionally, AbbVie will acquire Nimble’s peptide synthesis, screening, and optimization platform, which uses proprietary technology to help drive rapid discovery and optimization of peptide candidates for a range of targets.
“The addition of Nimble’s pipeline to AbbVie’s existing pipeline, combined with our deep clinical and translational expertise in immunology, represents an important growth opportunity,” says Jonathon Sedgwick, PhD, Senior Vice President and Global Head of Discovery Research at AbbVie in a news release. “Together, AbbVie and Nimble have the potential to help address the significant unmet medical need for people living with autoimmune diseases.”
“Nimble Therapeutics is committed to transforming the discovery of oral peptide-based medicines. With AbbVie’s world-class expertise in developing and commercializing medicines on a global scale, Nimble’s novel oral therapies will be well-positioned to reach more people living with autoimmune diseases,” adds Jigar Patel, PhD, Founder and Chief Executive Officer at Nimble Therapeutics. “The talented, passionate and dedicated team at Nimble has made great progress over the past few years and we are pleased that AbbVie has recognized the tremendous potential of our proprietary platform and emerging immunology pipeline.”
Under the terms of the agreement, AbbVie will make a cash payment of $200 million at closing to acquire Nimble, subject to certain customary adjustments, in addition to certain interim funding payments. Nimble’s shareholders remain eligible for a potential payment, subject to the achievement of a development milestone. The transaction is subject to the satisfaction of customary closing conditions, including the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
Nimble is backed by founding investors Telegraph Hill Partners and Roche Ventures.
