(RTTNews) - AbbVie Inc. (ABBV), on Wednesday, announced that it has completed the acquisition of Aliada Therapeutics, further strengthening its neuroscience pipeline and R&D capabilities.
Aliada Therapeutics' lead investigational asset is ALIA-1758 which utilizes a novel blood-brain barrier (BBB)-crossing technology. This compound is currently in phase 1 trial for the treatment of Alzheimer's disease.
AbbVie acquired all outstanding Aliada equity for $1.4 billion in cash.
Currently, ABBV is trading at $174.97, down by 0.40 percent on the New York Stock Exchange.
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