AbbVie has acquired biotechnology company Celsius Therapeutics in a deal valued at $250m in cash. Celsius focuses on developing new treatments for inflammatory diseases.
The strategic move expands AbbVie's footprint in the treatment of inflammatory diseases, adding a potentially transformative therapy to its pipeline.
The acquisition terms stipulate that AbbVie will gain all outstanding equity of Celsius, subject to customary adjustments.
AbbVie has gained access to Celsius’ investigational antibody CEL383, designed to combat inflammatory bowel disease (IBD).
CEL383 is an anti-triggering receptor expressed on the myeloid cells 1 (TREM1) antibody.
TREM1 has been recognised as a significant gene driving IBD. It is found on inflammatory monocytes and neutrophils, where it amplifies inflammation by acting upstream of multiple inflammatory pathways.
CEL383 has shown promise in preclinical research, where it effectively inhibited TREM1 signalling. This inhibition led to reduced levels of critical inflammatory mediators.
The antibody has completed a double-blind, randomised, placebo-controlled, single ascending dose Phase I study that assessed its tolerability, safety and pharmacokinetics in healthy volunteers.
AbbVie immunology clinical development global head and vice-president Kori Wallace stated: “Given the potential relevance of TREM1 as a key driver of inflammation and pathology in IBD and other conditions, we are eager to advance the development of CEL383 with a goal of helping more patients with IBD achieve remission.”
Covington & Burling served as AbbVie's legal advisor while Celsius was advised financially by Centerview Partners, with Goodwin Procter serving as its legal advisor.
Celsius CEO Tariq Kassum stated: “AbbVie shares our excitement about the potential of TREM1 inhibition for patients with inflammatory disease.
“I’d like to thank the Celsius team for their relentless efforts in the discovery of CEL383. We look forward to the further development of this promising programme, which we hope will offer a new approach to the treatment of IBD.”
The latest development comes after AbbVie received accelerated approval from the US Food and Drug Administration (FDA) for EPKINLY to treat relapsed or refractory follicular lymphoma (R/R FL).
