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AbbVie (NYSE:ABBV) said Monday it acquired Seattle-based biopharmaceutical company Mavupharma for an undisclosed amount.
Mavupharma is focused on approaches to target the STING (STimulator of INterferon Genes) pathway for the treatment of cancer.
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"AbbVie's vision in oncology is to advance breakthrough areas of science leading to a strong pipeline of innovative cancer therapies," said Steve Davidsen, AbbVie's vice president of oncology discovery. "Mavupharma's platform has the potential to further our immuno-oncology portfolio and assist in the development of transformative medicines for patients."
AbbVie shares are around $70.28 on Monday. The stock has a 52-week high of $100.23 and a 52-week low of $65.06.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.