AbbVie to Acquire Gilgamesh Pharmaceutical’s Psychedelic Drug for $1.2B

AbbVie and Gilgamesh Pharmaceuticals announced a definitive agreement under which AbbVie will acquire Gilgamesh's lead investigational candidate, currently in clinical development for the treatment of patients with moderate-to-severe major depressive disorder (MDD).

Psychedelic compounds like bretisilocin are showing promise for treating depression. Unlike older drugs in this class, bretisilocin offers strong, lasting antidepressant effects with a shorter psychoactive experience. In a recent study, a single dose significantly reduced symptoms of major depressive disorder and was well tolerated, with no serious side effects.

"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, R&D and Chief Scientific Officer, AbbVie. "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. We look forward to advancing bretisilocin to late-stage clinical development."

"AbbVie's leadership in neuroscience and commitment to advancing innovative treatments make them the ideal partner to advance bretisilocin rapidly forward while enabling Gilgamesh to continue pursuing our broader mission of developing novel, transformative therapies for complex mental health and neurological conditions," said Jonathan Sporn, Chief Executive Officer at Gilgamesh Pharmaceuticals.   

Under the terms of the agreement, AbbVie will acquire Gilgamesh's bretisilocin program for up to $1.2 billion, inclusive of an upfront payment and development milestones. Additionally, as part of the transaction, Gilgamesh will spin off a new entity that will operate under the name Gilgamesh Pharma Inc. to hold its employees, other programs, and the existing collaboration with AbbVie. The transaction is subject to customary closing conditions.

This transaction builds upon AbbVie and Gilgamesh's 2024 collaboration and option-to-license agreement to advance the development of next-generation therapies for the treatment of psychiatric disorders. This option-to-license remains in effect and will be transferred to Gilgamesh Pharma Inc. in connection with the spin-out.