Established in 2004 as a subsidiary of Abbott Laboratories, AbbVie Biotech Ventures is based in Carthage, Illinois. With a portfolio of 14 companies, it invests in medical device, diagnostics, and drug/device companies that align with Abbott Laboratories' markets and long-term goals. The firm prefers to invest in companies in the development stage and positions itself as a minority investor. AbbVie Biotech Ventures is dedicated to making venture capital investments in emerging biotech and pharmaceutical companies.