Today, AbbVie announced it is acquiring Aliada for $1.4 billion, motivated by the potential for ALIA-1758, Aliada’s lead program, to be the best-in-class for the treatment of Alzheimer’s disease, and by the potential of the BBB-crossing platform to enhance its discovery and development efforts for other difficult-to-treat neurological diseases. As we congratulate the Aliada team, we wanted to share a bit more of the story behind the second significant acquisition from our Raven incubator this year and the first full-circle acquisition of a company we built with technology spun out from a larger company.

This is the first acquisition of a fully-baked, “home-grown” company from RA Capital’s RAVen incubator, which builds companies that our venture team funds and helps govern, so we wanted to mark the occasion by sharing a bit more about how we got here. 

The technological renaissance in covalent inhibitor technology over the past decade is impressive. Relatively recent advances in structure-based drug design have unlocked the tantalizing opportunity to engineer covalency into small molecules. Now, RA Capital has incubated and seeded Hyku Biosciences to unlock histidines, tyrosines, and lysines for covalent modification to greatly expand the druggable proteome.

Clinical trials can fail, regulators change their minds, manufacturing might run into an unsolvable glitch, and venture capital might dry up. Given all the risks small biotech companies face that are outside of their immediate control, might it be safer to just work for a more stable, revenue-generating company? Maybe! But before you rule out jumping into a small biotech, consider the pros and cons.

Some might consider Trikafta’s gains to be “good enough” for CF patients. But I think we can do better. And that’s why we’re so excited to introduce the world to Sionna.