AbbVie completes acquisition of Celsius Therapeutics for $250 million

AbbVie has acquired biotech company Celsius Therapeutics in a deal valued at $250 million in cash. Celsius focuses on developing new treatments for inflammatory diseases.

This strategic move expands AbbVie’s focus in the treatment of inflammatory diseases and adds a potentially transformative therapy to the company’s portfolio.

The terms of the acquisition provide that AbbVie will receive all remaining equity in Celsius units, subject to customary adjustments.

AbbVie has gained access to Celsjusza’s investigational antibody CEL383, designed to combat inflammatory bowel disease (IBD).

CEL383 is an anti-triggering receptor expressed on anti-myeloid cell antibody 1 (TREM1).

TREM1 has been identified as an important gene responsible for IBD. It is found on inflammatory monocytes and neutrophils, where it enhances inflammation by acting upstream of many inflammatory pathways.

CEL383 has shown promise in preclinical studies, where it effectively inhibited TREM1 signaling. This inhibition led to reduced levels of critical inflammatory mediators.

The antibody underwent a Phase I, double-blind, randomized, placebo-controlled, single-escalating dose study that assessed its tolerability, safety, and pharmacokinetics in healthy volunteers.

Kori Wallace, global director of clinical development for immunology at AbbVie and vice president, said: “Given the potential importance of TREM1 as a key driver of inflammation and pathology in IBD and other diseases, we want to accelerate the development of CEL383 with the aiming to help more IBD patients achieve remission.”

Covington & Burling was AbbVie’s legal advisor, and Centerview Partners provided financial advice to Celsius. Goodwin Procter was the company’s legal advisor.

Celsius CEO Tariq Kassum said: “AbbVie shares our excitement about the potential of TREM1 inhibition for patients with inflammatory diseases.

“I would like to thank the Celsius team for their continued efforts in discovering CEL383. We look forward to further development of this promising program, which we hope will offer a new approach to the treatment of IBD.”

The latest development comes after AbbVie received accelerated approval from the U.S. Food and Drug Administration (FDA) for EPKINLY for the treatment of relapsed or refractory follicular lymphoma (R/R FL).

“AbbVie Completes $250 Million Acquisition of Celsius Therapeutics” was originally created and published by Pharmaceutical Technology, a GlobalData brand.

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