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Corporate Venture
abbviebiotechventures.com

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Investments

54

Portfolio Exits

10

About AbbVie Biotech Ventures

AbbVie Biotech Ventures (ABVI), formerly Abbott Biotech Ventures, is a subsidiary of AbbVie dedicated to making venture capital investments in emerging biotech and pharmaceutical companies. Unlike traditional venture capital firms, ABVI characterizes an investment's success by its potential to significantly increase AbbVie's strategic growth, and not solely by its financial return. ABVI's area of focus is on emerging biotech and pharmaceutical companies that have the potential to provide long-term strategic growth options for AbbVie. Companies with programs ranging from pre-clinical (18 months prior to first-in-human) to early proof-of-concept are of highest interest for potential investment by ABVI. Given the early stage nature of these investments, ABVI will often syndicate with other venture capital investors or participate as a follow-on investor in a syndicated venture.

AbbVie Biotech Ventures Headquarter Location

100 N Field Drive Suite 360

Lake Forest, Illinois, 60045,

United States

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Latest AbbVie Biotech Ventures News

ImmunogenX Acquires Celiac Disease Candidate from Alvine Pharmaceuticals

Mar 16, 2016

(Page 1 of 1) ImmunogenX said today it has acquired the noncash assets of Alvine Pharmaceuticals—including its lead drug candidate Latglutenase (formerly ALV003) for celiac disease—for an undisclosed price. Latiglutenase, which ImmunogenX will rename as IMGX-003, is an oral mixture of two recombinant gluten-specific proteases designed to work by degrading gluten proteins into small physiologically irrelevant fragments. Latiglutenase was the subject of Phase I and Phase II clinical trials, where according to ImmunogenX it emerged as the only celiac disease treatment that demonstrated histologic success as well as symptomatic improvements in clinical trials. The deal follows the apparent end of a collaboration between Alvine and AbbVie to develop the celiac disease treatment. In May 2013, AbbVie agreed to partner with Alvine in co-developing Latiglutenase by purchasing an option to acquire assets related to Latiglutenase, or the equity of the company, for $70 million upfront. The deal also included potentially up to $275 million in additional payments, according to AbbVie’s Form 10-K annual report for 2013. However, in its Form 10-K annual report for 2015, filed on February 19, AbbVie tersely stated: “As of December 31, 2015, AbbVie will not make any additional payments pursuant to this arrangement.” AbbVie was an early investor in Alvine along with AbbVie Biotech Ventures, an AbbVie subsidiary dedicated to making early investments in emerging biotech and pharmaceutical companies. Headquartered in Newport Beach, CA, privately-held ImmunogenX is a subsidiary of Immunogenics LLC that has focused on developing treatments for celiac disease since it was founded in 2013. In addition to Latiglutenase, ImmunogenX is developing an advanced diagnostic tool and is commercializing a successful clinical study for a metabolic marker compound designed to measure the state of recovery of a celiac patient undergoing gluten-free diet treatment. ImmunogenX has also pioneered advanced mass spectrometry methods designed to identify new physiologically relevant gluten peptide sequences in wheat, barley, and rye and has developed a multiplexed quantitation method to screen for gluten proteins in food and consumer products. “We are exceptionally fortunate to have had the opportunity to acquire what is arguably the leading therapeutic advance for celiac disease,” ImmunogenX CEO Jack A. Syage, Ph.D., said in a statement. “We are privileged to be entrusted to take this much needed therapy through development and to market to help improve the quality of life of celiac disease patients who suffer from the inevitable intrusions of gluten that occur even under the most diligent of gluten-free diets.”

AbbVie Biotech Ventures Investments

54 Investments

AbbVie Biotech Ventures has made 54 investments. Their latest investment was in Endlyz Therapeutics as part of their Seed VC on July 7, 2021.

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AbbVie Biotech Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/29/2021

Seed VC

Endlyz Therapeutics

$3.25M

Yes

1

6/9/2021

Series A

Kojin Therapeutics

$60M

Yes

10

5/27/2021

Series C

Axial Therapeutics

$37.25M

Yes

3

7/29/2020

Seed VC

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$99M

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10

7/28/2020

Series A

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$99M

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10

Date

7/29/2021

6/9/2021

5/27/2021

7/29/2020

7/28/2020

Round

Seed VC

Series A

Series C

Seed VC

Series A

Company

Endlyz Therapeutics

Kojin Therapeutics

Axial Therapeutics

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Amount

$3.25M

$60M

$37.25M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

10

3

10

10

AbbVie Biotech Ventures Portfolio Exits

10 Portfolio Exits

AbbVie Biotech Ventures has 10 portfolio exits. Their latest portfolio exit was Lodo Therapeutics on May 28, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/28/2021

Acquired

$99M

2

5/27/2021

Acq - Pending

$99M

2

3/30/2021

Acquired

$99M

11

10/15/2020

Acquired

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$99M

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10

6/27/2019

IPO

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$99M

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10

Date

5/28/2021

5/27/2021

3/30/2021

10/15/2020

6/27/2019

Exit

Acquired

Acq - Pending

Acquired

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

2

11

10

10

AbbVie Biotech Ventures Team

1 Team Member

AbbVie Biotech Ventures has 1 team member, including current Managing Director, John Gustofson.

Name

Work History

Title

Status

John Gustofson

Managing Director

Current

Name

John Gustofson

Work History

Title

Managing Director

Status

Current

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