- Proposed acquisition adds Nimble's lead asset, an
investigational oral peptide IL23R inhibitor in preclinical
development for psoriasis, and a pipeline of other novel oral
peptide assets across autoimmune diseases where significant unmet
needs remain
- Acquisition also allows AbbVie to utilize Nimble's
proprietary peptide synthesis platform to enable the discovery and
optimization of oral peptide therapeutics
NORTH
CHICAGO, Ill. and MADISON,
Wis., Dec. 13, 2024 /PRNewswire/ -- AbbVie
(NYSE: ABBV) and Nimble Therapeutics today announced a definitive
agreement under which AbbVie will acquire Nimble, including its
lead asset, an investigational oral peptide IL23R 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," said Jonathon
Sedgwick, Ph.D., senior vice president and global head of
discovery research, AbbVie. "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," said
Jigar Patel, Ph.D., founder and
chief executive officer, 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."
Nimble's preclinical-stage IL23R inhibitor is an investigational
oral therapy for the treatment of psoriasis and inflammatory bowel
disease (IBD). IL23R is a clinically validated therapeutic target
in certain autoimmune diseases and a major contributing factor to
psoriasis and IBD pathogenesis and progression through increased
inflammation and amplified immune responses.
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.
About AbbVie
AbbVie's mission is to discover and deliver innovative medicines
and solutions that solve serious health issues today and address
the medical challenges of tomorrow. AbbVie strives to have a
remarkable impact on people's lives across several key therapeutic
areas – immunology, oncology, neuroscience, and eye care – and
products and services in AbbVie's Allergan Aesthetics portfolio.
For more information about AbbVie, please visit us at
www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X
(formerly Twitter), and YouTube.
About Nimble Therapeutics
Nimble is a biotechnology company dedicated to delivering on the
promise of oral peptide therapeutics. Leveraging a
paradigm-shifting peptide drug discovery and development engine,
Nimble is advancing its internal pipeline and continues to support
several partnered programs. The Nimble platform combines massively
parallel solid-phase synthesis, unrivaled chemical and structural
diversity, sophisticated assays, and powerful machine learning and
computational methods. Nimble is located in Madison, WI and Philadelphia, PA.
No Offer or Solicitation
This press release is for information purposes only and is not
intended to and does not constitute, or form part of, an offer,
invitation or the solicitation of an offer or invitation to
purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of any securities, or the solicitation of any vote or
approval in any jurisdiction, pursuant to the proposed transaction
or otherwise, nor shall there be any sale, issuance or transfer of
securities in any jurisdiction in contravention of applicable
law.
Forward-Looking Statements
Some statements in this news release are, or may be
considered, forward-looking statements for purposes of the Private
Securities Litigation Reform Act of 1995. The words "believe,"
"expect," "anticipate," "project" and similar expressions and uses
of future or conditional verbs, generally identify forward-looking
statements. AbbVie cautions that these forward-looking statements
are subject to risks and uncertainties that may cause actual
results to differ materially from those expressed or implied in the
forward-looking statements. Such risks and uncertainties include,
but are not limited to, challenges to intellectual property,
competition from other products, difficulties inherent in the
research and development process, adverse litigation or government
action, and changes to laws and regulations applicable to our
industry. Additional information about the economic, competitive,
governmental, technological and other factors that may affect
AbbVie's operations is set forth in Item 1A, "Risk Factors," of
AbbVie's 2023 Annual Report on Form 10-K, which has been filed with
the Securities and Exchange Commission, as updated by its
subsequent Quarterly Reports on Form 10-Q. Forward looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward looking statements,
and AbbVie undertakes no obligation, and specifically declines, to
release publicly any revisions to forward-looking statements as a
result of subsequent events or developments, except as required by
law.
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SOURCE AbbVie