AbbVie To Collaborate With Gilgamesh To Develop Next-Gen Psychiatric Therapies

(RTTNews) - AbbVie (ABBV) Monday announced a collaboration and option-to-license agreement with Gilgamesh Pharmaceuticals, a clinical stage neuroscience biotech firm, to develop next-generation treatment approaches and unmet needs in psychiatric disorders.

AbbVie noted that the first-generation compounds may induce profound psychoactive effects, such as hallucinations, necessitating in-office administration and concomitant supportive care. The discovery of neuroplastogens might help minimize the challenging effects seen with first-generation compounds.

These new compounds are intended for treating a variety of psychiatric conditions, including mood and anxiety disorders.

As per the agreement, AbbVie will lead development and commercialization activities, upon exercise of the option.

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.