(Reuters) – U.S. drugmaker AbbVie said on Monday it would acquire Aliada Therapeutics for $1.4 billion in cash, gaining access to the therapy developer’s Alzheimer’s disease drug candidate.
Aliada is developing ALIA-1758, an antibody for the Alzheimer’s disease, which AbbVie said could be a potential best-in-class therapy.
The deal is expected to close by the end of this year.
(Reporting by Sriparna Roy and Puyaan Singh in Bengaluru; Editing by Shilpi Majumdar)
