AbbVie completes acquisition of Celsius Therapeutics for $250m
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.
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.
Covington & Burling served as AbbVie’s legal advisor while Celsius was advised financially by Centerview Partners, with Goodwin Procter serving as its legal advisor.
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).
July 1, 2024
