AbbVie Awards $20K Grants to 20 Entrepreneurs, Acquires Apogee for Oncology Assets
ABBV•AbbVie’s BOTOX Cosmetic initiative selected 250 women entrepreneurs for mentorship and will award $20,000 grants to 20 finalists, highlighting the company’s community investment. AbbVie also acquired Apogee Therapeutics to secure de-risked clinical oncology, obesity and cell therapy assets, signaling a premium-priced strategy as patent cliffs loom.
1. BOTOX Confidence Collective Cohort
BOTOX Cosmetic’s Confidence Collective selected 250 women entrepreneurs for a multi-week program focusing on skill-building, mentorship and networking. Participants began with a virtual summit on business development and financial education before advancing to an intensive Boost Camp experience.
2. Grant Awards Details
A judging panel of Allergan Aesthetics executives and aesthetic entrepreneur advisors will choose 20 participants to receive $20,000 each. Winners will be announced this fall and gain capital to scale their businesses.
3. Apogee Therapeutics Acquisition
AbbVie completed its acquisition of Apogee Therapeutics to gain de-risked clinical assets in oncology, obesity and cell therapy. The deal underscores Big Pharma’s willingness to pay premiums for late-stage assets ahead of looming patent expirations.
