AbbVie bets big on next-gen CAR-T with $2.1B Capstan buyout

AbbVie is acquiring Capstan Therapeutics for up to $2.1 billion, gaining access to its phase 1 in vivo CAR-T therapy, CPTX2309, and a promising preclinical pipeline.

Why it matters: This deal sees AbbVie enter the emerging in vivo CAR-T space, potentially overcoming the major manufacturing and safety hurdles of traditional CAR-T therapies and broadening treatment access for autoimmune diseases.

Backstory: Traditional CAR-T therapies involve modifying cells outside the body, a complex and limiting process. Capstan is pioneering in vivo methods—using mRNA and lipid nanoparticles—to reprogram T cells directly inside the body, eliminating the need for chemotherapy and lab-based cell engineering.

Big picture: The acquisition positions AbbVie at the forefront of autoimmune innovation, expanding beyond its blockbusters Skyrizi and Rinvoq and potentially enabling scalable, less invasive therapies. It also reflects broader pharma interest in mRNA tech and novel CAR-T applications across disease areas.

Lead asset: CPTX2309 uses an mRNA payload inside lipid nanoparticles targeted at CD8-positive T cells to produce anti-CD19 CAR-T cells in vivo. A phase 1 trial in healthy volunteers began in April in Australia.

Yes, but: Capstan is coming late to the party. Competitors Interius BioTherapeutics and Umoja Biopharma (already partnering with AbbVie) reached the clinic first but are targeting cancer and using lentiviral vectors, not mRNA.

Industry trend: AstraZeneca also made a $425M move into in vivo cell therapy this year by acquiring EsoBiotech.