AbbVie To Acquire Gilgamesh's Lead Investigational Candidate, Bretisilocin, For Up To $1.2 Bln

(RTTNews) - AbbVie, Inc. (ABBV) and Gilgamesh Pharmaceuticals Inc. announced Monday a definitive agreement under which AbbVie will acquire Gilgamesh's lead investigational candidate, Bretisilocin, for up to $1.2 billion, inclusive of an upfront payment and development milestones.

Bretisilocin is currently in clinical development for the treatment of patients with moderate-to-severe major depressive disorder (MDD).

Bretisilocin, a 5-HT2A receptor agonist and 5-HT releaser, is a novel, next-generation psychedelic compound designed to address development challenges observed within this class of compounds. It has been shown to exert a shorter duration of psychoactive experience, while retaining an extended therapeutic benefit.

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 and other programs, including its oral NMDA receptor antagonist blixeprodil (GM-1020), cardio-safe ibogaine analog, M1/M4 agonist program and 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.