AbbVie and Gilgamesh have agreed to research and develop a portfolio of next-generation therapeutics for psychiatric disorders.
AbbVie and Gilgamesh Pharmaceuticals recently 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,” the companies said in a news release.
Gilgamesh is a clinical-stage biotech developing next-generation versions of classic psychedelic compounds, known as neuroplastogens. These new compounds hold the potential to provide significant clinical benefits while minimizing the psychoactive effects of psychedelics, according to the company.
“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.”
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, according to the companies.
“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.”