M&A Deal Summary

AbbVie Acquires Capstan

On June 30, 2025, AbbVie acquired life science company Capstan from Polaris Partners for 2.1B USD

Acquisition Highlights
  • This is AbbVie’s 14th transaction in the Life Science sector.
  • This is AbbVie’s 6th largest (disclosed) transaction.
  • This is AbbVie’s 12th transaction in the United States.
  • This is AbbVie’s 3rd transaction in California.

M&A Deal Summary

Date 2025-06-30
Target Capstan
Sector Life Science
Buyer(s) AbbVie
Sellers(s) Polaris Partners
Deal Type Add-on Acquisition
Deal Value 2.1B USD
Advisor(s) Centerview Partners (Financial)
Cooley (Legal)

Target

Capstan

San Diego, California, United States
Capstan Therapeutics is developing a targeted delivery platform and therapeutics to reprogram immune cells in vivo for a broad range of disease categories. Capstan was founded in 2021 and is based in San Diego, California.

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Buyer(S) 1

Buyer

AbbVie

North Chicago, Illinois, United States

Category Company
Founded 2012
Sector Life Science
Employees55,000
Revenue 56.3B USD (2024)
DESCRIPTION
Entrance to Abbvie's office in Lake Forest, Illinois.
Entrance to Abbvie's office in Lake Forest, Illinois.

AbbVie is a research-based biopharmaceutical company. AbbVie develops and markets advanced therapies that address complex and serious diseases. AbbVie's products are focused on treating conditions such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis, and Crohn's disease; low testosterone; HIV; endometriosis; thyroid disease; Parkinson's disease; and complications associated with chronic kidney disease and cystic fibrosis, among other health conditions. AbbVie was founded in 2012 and is based in North Chicago, Illinois.


DEAL STATS #
Overall 14 of 15
Sector: Life Science M&A 14 of 15
Type: Add-on Acquisition M&A Deals 13 of 13
State: California M&A 3 of 3
Country: United States M&A 12 of 13
Year: 2025 M&A 1 of 2
Size (of disclosed) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-13 Nimble Therapeutics

Madison, Wisconsin, United States

Nimble Therapeutics is a provider of massively parallel chemical synthesis to drug discovery. Nimble’s proprietary technology enables the synthesis and screening of millions of peptides, including scaffolded natural and modified macrocyclic peptidomimetics. Nimble Therapeutics was founded in 2019 and is based in Madison, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-25 Gilgamesh - Bretisilocin

New York, New York, United States

Gilgamesh's Bretisilocin is a 5-HT2A receptor agonist and 5-HT releaser, a novel, next-generation psychedelic compound designed to address development challenges observed within this class of compounds.

Buy $1.2B

Seller(S) 1

SELLER

Polaris Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1996
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Polaris Partners is primarily a seed, first round, and early stage venture capital investor in information technology and life science businesses. However, Polaris also focuses on private equity investments in established companies. In this area, Polaris targets high growth middle market companies in industries including technology, healthcare, digital media, consumer products and services, and business services. The firm's investments include minority growth equity investments, recapitalizations with liquidity, and leveraged buyouts. Polaris Partners was formed in 1996 and has offices in Seattle, Washington and Waltham, Massachusetts.


DEAL STATS #
Overall 35 of 37
Sector: Life Science M&A 8 of 8
Type: Add-on Acquisition M&A Deals 17 of 19
State: California M&A 6 of 6
Country: United States M&A 32 of 34
Year: 2025 M&A 2 of 4
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-29 Quartet

New York City, New York, United States

Quartet provides software solutions, behavioral health and patients a new value-based care delivery model. Quartet was founded in 2014 and is based in New York City, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-03 Thirty Madison

New York, New York, United States

Thirty Madison makes specialized care and clinically-proven treatments accessible and affordable for everyone by bringing the specialist experience directly into people's homes with online doctor consultations, treatment delivery, and ongoing support. The company prioritizes and enables the cultivation of meaningful doctor-patient relationships to provide the best care for successful management of lifelong conditions. Thirty Madison was formed in 2017 and is based in New York, New York.

Sell -