AbbVie to Acquire Gilgamesh Pharmaceuticals for $1.2 Billion, Advancing Breakthrough Depression Treatment

AbbVie Prepared an Agreement to Acquire Gilgamesh Pharmaceuticals

Announcement

AbbVie and Gilgamesh Pharmaceuticals Inc. introduced their definitive agreement, claiming that AbbVie will acquire Gilgamesh’s popular investigational candidate, which is currently under clinical development for moderate-to-severe major depressive disorder (MDD) patients. The psychedelic compounds consisting of 5-HT2A receptor agonists have successfully received recognition as a capable treatment for mental health conditions like MDD, due to their elaborative, powerful, durable, and rapid antidepressant effects. Though the existing agents in this class are affected by their long timeframe of psychoactive experience.

The bretisilocin, a 5-HT2A receptor agonist and 5-HT releaser, is an excellent next-generation psychedelic compound introduced to identify developmental challenges caught within the class of compounds. Bretisilocin is shown to develop the shortest duration of psychoactive experience while retaining and expanding the therapeutic benefit.

Phase 2a Study of Bretisilocin Results

The satisfying topline results from the phase 2a study of bretisilocin in MDD were announced recently, elaborating the clinically effective and statistically prominent diminisher of extreme depressive symptoms versus the low-dose active comparator as differentiated and examined by the Montgomery-Asberg depression rating scale (MADRS) total score. On day 14, the single dose (10mg) of bretisilocin described the powerful antidepressant effect with a change of -21.6 points from the baseline in MADRS total score in comparison to -12.1 points change from the baseline for the low dose (1mg). The bretisilocin was tolerable without any unfavorable events.

Agreement

According to the terms of the agreement, AbbVie will acquire Gilgamesh’s bretisilocin program for $1.2 billion, extensive of a development profit and an upfront payment. Being a part of the transaction, the Gilgamesh will bring out a new entity that will be operative, representing Gilgamesh Pharma Inc., with its programs and employees. It consists of its oral NMDA receptor antagonist blixeprodil (GM-1020), M1/M4 agonist program, cardio-safe ibogaine analog, and the existing partnership with AbbVie. The transaction is entitled to the customary closing conditions.

Views and Statements from the Company Leaders

MD, Executive Vice President, Research and Development, and Chief Scientific Officer of AbbVie, Roopal Thakkar said, “The field of psychiatry has revealed the challenging areas in medicine, with a prominent need for innovative solutions. This acquisition shows our promising commitment towards the vast and improved psychiatric care with the investment in novel treatment approaches, with the ability to meet patients who didn’t respond well to other treatments. We see to further advance bretisilocin to late-stage clinical development.”