On May 13, AbbVie and Gilgamesh Pharmaceuticals announced a collaboration and option agreement to develop next-generation therapies for psychiatric disorders. This collaboration will leverage AbbVie's expertise in psychiatry and Gilgamesh's innovative research platform to discover novel neuroblast progenitors.Under the terms of the agreement, AbbVie and Gilgamesh have agreed to research and develop a next-generation portfolio of treatments for psychiatric disorders. Upon exercising the option, AbbVie will lead development and commercialization activities. Gilgamesh will receive an upfront payment of $65 million from AbbVie and is eligible to receive up to $1.95 billion in option fees and milestones, as well as tiered royalties ranging from mid-single-digit to low-double-digit percentages of net sales.Classic psychedelic compounds offer new mechanisms for addressing mental health disorders, with some demonstrating promising clinical efficacy in cases where other treatments have failed. However, these first-generation compounds can induce profound psychoactive effects, such as hallucinations, necessitating office-based administration and accompanying supportive care.The next-generation targeted mechanism, referred to as neuroblast progenitors, has demonstrated the potential to provide significant clinical benefits while aiming to minimize the challenging effects of first-generation compounds. These novel compounds hold great promise for treating a variety of psychiatric disorders, including mood and anxiety disorders. Gilgamesh has successfully identified leading compounds in this new class of therapies using an innovative research platform.Jonathon Sedgwick, Ph.D., Senior Vice President and Global Head of Discovery Research at AbbVie, stated:"The needs of patients with mental disorders are still unmet, and we know that to innovate in this field, we need to pursue new technologies and methods. We look forward to collaborating with Gilgamesh's world-class team to advance the development of novel neuroblastogens and pave the way for other treatment approaches in psychiatry."
Jonathan Sporn, M.D., Chief Executive Officer of Gilgamesh Pharmaceuticals, Inc., stated:"We are thrilled to partner with AbbVie, a global pharmaceutical company focused on innovation in psychiatric care, to address the pressing challenges in mental health treatment. Our collaboration will pioneer research into a new generation of therapies that hold tremendous potential for improving patient outcomes."
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