AbbVie to acquire Gilgamesh Pharmaceuticals’ bretisilocin for $1.2 billion

AbbVie and Gilgamesh Pharmaceuticals announced a definitive agreement under which AbbVie will acquire Gilgamesh’s lead investigational candidate, bretisilocin, currently in clinical development for moderate-to-severe major depressive disorder (MDD).

Bretisilocin is a 5-HT2A receptor agonist and 5-HT releaser, designed as a next-generation psychedelic compound with a shorter psychoactive duration while maintaining long-lasting therapeutic benefits.

"The field of psychiatry represents one of the most challenging areas in medicine, with a significant need for innovative solutions," said Roopal Thakkar, M.D., executive vice president, research and development and chief scientific officer, AbbVie. "This acquisition underscores our commitment to broadening and enhancing psychiatric care by investing in novel treatment approaches with the potential to reach patients for whom other treatments have been ineffective. We look forward to advancing bretisilocin to late-stage clinical development."

"AbbVie’s leadership in neuroscience and commitment to advancing innovative treatments make them the ideal partner to advance bretisilocin rapidly forward while enabling Gilgamesh to continue pursuing our broader mission of developing novel, transformative therapies for complex mental health and neurological conditions," said Jonathan Sporn, Chief Executive Officer at Gilgamesh Pharmaceuticals.

AbbVie will acquire the bretisilocin program for up to $1.2 billion, including upfront and milestone payments. Gilgamesh will spin off a new company, Gilgamesh Pharma Inc., which will retain its employees and other programs, including its oral NMDA receptor antagonist blixeprodil (GM-1020), cardio-safe ibogaine analog, M1/M4 agonist program, and its existing collaboration with AbbVie. The transaction is subject to customary closing conditions.

This deal builds on AbbVie and Gilgamesh’s 2024 collaboration and option-to-license agreement for next-generation psychiatric therapies, which will transfer to Gilgamesh Pharma Inc. after the spin-out.