AbbVie is set to acquire Gilgamesh Pharmaceuticals’ lead investigational psychedelic candidate, currently in development for moderate-to-severe major depressive disorder.
The treatment is part of a new class of psychedelic-inspired compounds that act on serotonin receptors in the brain. Unlike some older psychedelic treatments, which can have long-lasting psychoactive effects, this new acquisition is designed to provide a shorter experience while still delivering lasting antidepressant benefits.
“The field of psychiatry represents one of the most challenging areas in medicine, with a significant need for innovative solutions,” said Roopal Thakkar, Executive Vice President, Research and Development and Chief Scientific Officer, AbbVie in a press release. “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.” The treatment was well tolerated in clinical trials and no serious side effects were reported, supporting further clinical development.
The deal is worth up to $1.2bn, including upfront payments and potential development milestones. As part of the agreement, Gilgamesh will create a new company, Gilgamesh Pharma Inc., to continue developing its other early-stage programs. These include an oral NMDA receptor antagonist and other experimental psychiatric treatments. The new company will also maintain its collaboration with AbbVie.
Also commenting in the release was Jonathan Sporn, Chief Executive Officer, Gilgamesh Pharmaceuticals, who said that “AbbVie’s leadership in neuroscience and commitment to advancing innovative treatments make them the ideal partner to advance [the candidate] rapidly forward”.
This acquisition reflects growing pharmaceutical interest in psychedelic-based therapies for mental health. For AbbVie, the move strengthens its neuroscience portfolio and positions the company to offer new treatment options for patients who have not responded to existing antidepressants, while allowing Gilgamesh to continue exploring multiple innovative approaches for psychiatric and neurological disorders.
