AbbVie Acquires Celsius Therapeutics
AbbVie has acquired Celsius Therapeutics, a privately held biotechnology company developing new therapies inflammatory diseases, for $250 million in cash. The transaction is subject to certain customary adjustments.
Celsius' lead investigational asset is CEL383, a potential first-in-class anti-TREM1 antibody that has completed a Phase 1 clinical study for the treatment of I inflammatory bowel disease (IBD).
TREM1 has been identified as a key disease driver gene in IBD, where it is expressed on inflammatory monocytes and neutrophils. In these cell types and others, TREM1 is upstream of multiple known inflammatory pathways and acts as an amplifier of inflammation.
"Given the potential relevance of TREM1 as a key driver of inflammation and pathology in IBD and other conditions, we are eager to advance the development of CEL383 with a goal of helping more patients with IBD achieve remission," said Kori Wallace, vice president, global head of immunology clinical development at AbbVie.
"AbbVie shares our excitement about the potential of TREM1 inhibition for patients with inflammatory disease," said Celsius CEO Tariq Kassum. "I'd like to thank the Celsius team for their relentless efforts in the discovery of CEL383. We look forward to the further development of this promising program, which we hope will offer a new approach to the treatment of IBD."
The deal just comes two weeks after AbbVie and Chinese biopharmaceutical company FutureGen announced a license agreement to develop FG-M701, a next generation TL1A antibody for the treatment of IBD currently in preclinical testing.
