AbbVie Acquires Gilgamesh's Experimental Depression Drug for $1.2 Billion

AbbVie has agreed to acquire experimental antidepressant treatment bretisilocin from Gilgamesh Pharmaceuticals for up to $1.2 billion. The drug is being developed for major depressive disorder and is part of a new class of psychedelics known as neuroplastogens. The acquisition follows a previous collaboration between AbbVie and Gilgamesh to develop psychedelic drugs for mental health disorders.

AbbVie, a global biopharmaceutical company, has agreed to acquire Gilgamesh Pharmaceuticals' experimental antidepressant bretisilocin for up to $1.2 billion. The drug, currently in Phase 2 development, is a novel psychedelic compound designed to treat major depressive disorder (MDD) [1].

Bretisilocin, a short-acting serotonin (5-HT)2A receptor agonist and 5-HT releaser, aims to address the long duration of psychoactive experience observed in existing psychedelic compounds. It has shown promising results in a Phase 2a study, demonstrating a statistically significant reduction in depressive symptoms compared to a low-dose active comparator [1].

The acquisition follows a previous collaboration between AbbVie and Gilgamesh to develop psychedelic drugs for mental health disorders. Under the terms of the agreement, AbbVie will acquire Gilgamesh's bretisilocin program, including an upfront payment and development milestones, for up to $1.2 billion. Additionally, Gilgamesh will spin off a new entity, Gilgamesh Pharma Inc., to hold its employees and other programs [1].

Roopal Thakkar, M.D., executive vice president, research and development, and chief scientific officer at AbbVie, stated, "The field of psychiatry represents one of the most challenging areas in medicine, with a significant need for innovative solutions. This acquisition underscores our commitment to broadening and enhancing psychiatric care by investing in novel treatment approaches with the potential to reach patients for whom other treatments have been ineffective." [1]

Jonathan Sporn, M.D., chief executive officer at Gilgamesh Pharmaceuticals, added, "AbbVie's leadership in neuroscience and commitment to advancing innovative treatments make them the ideal partner to advance bretisilocin rapidly forward while enabling Gilgamesh to continue pursuing our broader mission of developing novel, transformative therapies for complex mental health and neurological conditions." [1]

The acquisition is subject to customary closing conditions and builds upon the existing collaboration between AbbVie and Gilgamesh. The transaction is expected to accelerate the development of bretisilocin and expand AbbVie's pipeline in psychiatry [1].

References:

[1] https://www.biospace.com/press-releases/abbvie-to-acquire-gilgamesh-pharmaceuticals-bretisilocin-a-novel-investigational-therapy-for-major-depressive-disorder-expanding-psychiatry-pipeline