AbbVie (ABBV.US) has agreed to acquire all outstanding shares of the biotechnology company Aliada Therapeutics, focused on neuroscience, for $1.4 billion in cash, according to the Securities Times APP.

The transaction is expected to be completed in the fourth quarter of 2024, subject to regulatory approval and other customary closing conditions.

This acquisition will enable AbbVie to utilize Aliada's novel blood-brain barrier penetration technology to enhance its discoveries and development work in the field of neuroscience.

Aliada's lead candidate drug, ALIA-1758, is an antibody against pyroglutamate-3-amino peptide Aβ (3pE-Aβ), potentially the best-in-class therapy for treating Alzheimer's disease. The company is also pursuing projects in other neurological disorders.

Dr. Roopal Thakkar, Executive Vice President, Research and Chief Scientific Officer at AbbVie, stated: "This acquisition allows us to advance ALIA-1758 immediately, a potential best-in-class therapy for improving Alzheimer's disease. Additionally, Aliada's innovative BBB-crossing technology enhances our R&D capabilities to expedite the development of next-generation therapies for neurological and other diseases, providing beneficial drug delivery to the central nervous system in these conditions."