- Collaboration to leverage AbbVie's psychiatry
expertise and Gilgamesh's innovative research platform to develop
next-generation neuroplastogens for the treatment of
psychiatric disorders
NORTH
CHICAGO, Ill. and NEW
YORK, May 13, 2024 /PRNewswire/ -- AbbVie (NYSE:
ABBV) and Gilgamesh Pharmaceuticals today announced a collaboration
and option-to-license agreement to develop next-generation
therapies for psychiatric disorders. This collaboration will
leverage AbbVie's expertise in psychiatry and Gilgamesh's
innovative research platform to discover novel neuroplastogens.
Classic psychedelic compounds provide novel mechanisms to
address mental health disorders, and some have shown promising
clinical efficacy where other treatments have been ineffective.
However, these first-generation compounds may induce profound
psychoactive effects, such as hallucinations, necessitating
in-office administration and concomitant supportive care.
Next-generation versions known as neuroplastogens target
mechanisms that have shown potential to provide significant
clinical benefits and are designed to minimize the challenging
effects seen with first-generation compounds. These new compounds
hold substantial promise for treating a variety of psychiatric
conditions, including mood and anxiety disorders. Gilgamesh has
leveraged an innovative research platform to successfully identify
lead compounds in this novel class of therapeutics.
"Significant unmet need remains for people living with
psychiatric disorders and we know that to innovate in this field,
we need to pursue novel technologies and approaches," said
Jonathon Sedgwick, Ph.D., senior
vice president and global head of discovery research at AbbVie. "We
look forward to working with Gilgamesh's world-class team to
advance the development of novel neuroplastogens and pave the way
for additional treatment approaches in psychiatry."
"We are thrilled to partner with AbbVie, a global pharmaceutical
company focused on innovation in psychiatric care, to address the
pressing challenges in mental health treatment," said Jonathan Sporn, M.D., chief executive officer at
Gilgamesh Pharmaceuticals. "Our collaboration will pioneer research
of a new generation of therapies that hold great potential for
improving patient outcomes."
Under terms of the agreement, AbbVie and Gilgamesh have agreed
to research and develop a portfolio of next-generation therapeutics
for psychiatric disorders. Upon exercise of the option, AbbVie will
lead development and commercialization activities. Gilgamesh will
receive an upfront payment of $65
million from AbbVie and is eligible to receive up to
$1.95 billion in aggregate option
fees and milestones, as well as tiered royalties from mid-single to
low-double digits on net sales.
About AbbVie
AbbVie's mission is to discover and deliver innovative medicines
and solutions that solve serious health issues today and address
the medical challenges of tomorrow. We strive to have a remarkable
impact on people's lives across several key therapeutic areas –
immunology, oncology, neuroscience, and eye care – and products and
services in our Allergan Aesthetics portfolio. For more information
about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on
LinkedIn, Facebook, Instagram, X (formerly Twitter), and
YouTube.
About Gilgamesh Pharmaceuticals
Gilgamesh Pharmaceuticals is a clinical stage neuroscience
biotech developing innovative, best-in-class new chemical entities
(NCEs) that target the root causes of psychiatric diseases, moving
away from symptom management towards rapid-acting and durable,
disease modifying therapies. We do this by designing best-in-class
NCEs acting through proven mechanisms, which are optimized for
safety, efficacy, and patient access. Gilgamesh is advancing a
diverse portfolio of programs, including two lead clinical
programs, GM-1020 and GM-2505, which have both commenced Phase 2
studies in Major Depressive Disorder. Learn more about the
company's therapeutic pipeline
at https://www.gilgameshpharmaceutical.com/.
Forward-Looking Statements
Some statements in this news release are, or may be
considered, forward-looking statements for purposes of the Private
Securities Litigation Reform Act of 1995. The words "believe,"
"expect," "anticipate," "project" and similar expressions and uses
of future or conditional verbs, generally identify forward-looking
statements. AbbVie cautions that these forward-looking statements
are subject to risks and uncertainties that may cause actual
results to differ materially from those expressed or implied in the
forward-looking statements. Such risks and uncertainties include,
but are not limited to, challenges to intellectual property,
competition from other products, difficulties inherent in the
research and development process, adverse litigation or government
action, and changes to laws and regulations applicable to our
industry. Additional information about the economic, competitive,
governmental, technological and other factors that may affect
AbbVie's operations is set forth in Item 1A, "Risk Factors," of
AbbVie's 2023 Annual Report on Form 10-K, which has been filed with
the Securities and Exchange Commission, as updated by its
subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no
obligation, and specifically declines, to release publicly any
revisions to forward-looking statements as a result of subsequent
events or developments, except as required by law.
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SOURCE AbbVie