AbbVie (NYSE: ABBV) and Gilgamesh Pharmaceuticals today 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.
Classic psychedelic compounds provide novel mechanisms to address mental health disorders, and some have shown promising clinical efficacy where other treatments have been ineffective. However, these first-generation compounds may induce profound psychoactive effects, such as hallucinations, necessitating in-office administration and concomitant supportive care.
Next-generation versions known as neuroplastogens target mechanisms that have shown potential to provide significant clinical benefits and are designed to minimize the challenging effects seen with first-generation compounds. These new compounds hold substantial promise for treating a variety of psychiatric conditions, including mood and anxiety disorders. Gilgamesh has leveraged an innovative research platform to successfully identify lead compounds in this novel class of therapeutics.
“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.”
“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. Our collaboration will pioneer research of a new generation of therapies that hold great potential for improving patient outcomes.”
– Jonathan Sporn, M.D., Chief Executive Officer at Gilgamesh Pharmaceuticals
Under terms of the agreement, 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.
About Gilgamesh Pharmaceuticals
Gilgamesh is a clinical-stage biotech focused on neuroscience aiming to fundamentally improve how mental illnesses are treated by shifting away from symptom management to a focus on rapid-acting and durable therapies targeting the fundamental drivers of disease. We do this by designing best-in-class new chemical entities (NCEs) acting through proven mechanisms, which are optimized for safety, efficacy, and patient access. The Gilgamesh team brings together proven expertise in medicinal chemistry, neurobiology, translational science, clinical research, and commercial development. Our highly seasoned biotech veterans and proven entrepreneurs have the experience to ensure high quality and creative drug development to bring our new medicines rapidly and successfully to patients.