The biotech and healthcare sector is gearing up for an action-packed JP Morgan Healthcare Conference in early January. But that does not mean that the deal making has stopped. Two deals the past week stand out:
Pharming Group acquired Abliva for $66M or $0.04/share
AbbVie acquired Nimble Therapeutics for $200M
While not huge deals, the AbbVie deal in particular stands out as it involves the acquisition of a preclinical stage therapy. Abbvie acquired Nimble's lead investigational oral peptide inhibitor and a pipeline of other oral peptide candidates targeting several autoimmune diseases.
The deal includes AbbVie acquiring Nimble's synthesis, screening, and optimization platform, which focus on peptide candidates for a range of targets. The main focus on Nimble being oral peptide-based medicines.
Peptides are organic substances similar to proteins but smaller. They are typically easier for the body to absorb than proteins because they are smaller and more broken down. They have several functions in the body and are the basis of various medications.
AbbVie is counting on their development experience and breadth of operations to move these preclinical ideas and treatments forward. A large addressable market, we will follow these therapies closely over the coming years to see what comes of this deal.
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