AbbVie acquires Celsius Therapeutics for $250m

AbbVie has recently acquired Celsius Therapeutics, a biotechnology firm, in a transaction worth $250 million in cash. This acquisition aims to bolster AbbVie's presence in the domain of inflammatory diseases by integrating Celsius' innovative treatment solutions.

The deal entails AbbVie obtaining all outstanding equity of Celsius, subject to the usual adjustments. This strategic acquisition provides AbbVie with access to CEL383, an investigational antibody developed by Celsius to address inflammatory bowel disease (IBD). CEL383 is an anti-TREM1 (triggering receptor expressed on myeloid cells 1) antibody, recognized for its pivotal role in driving inflammation in IBD.

TREM1 is a gene prominently expressed on inflammatory monocytes and neutrophils, where it plays a crucial role in amplifying inflammation through various inflammatory pathways. CEL383 has demonstrated potential in preclinical studies by effectively inhibiting TREM1 signaling, which subsequently led to a reduction in key inflammatory mediators. This promising antibody has also completed a Phase I clinical trial, which was a double-blind, randomized, placebo-controlled, single ascending dose study assessing its tolerability, safety, and pharmacokinetics in healthy volunteers.

Kori Wallace, AbbVie's global head and vice-president of immunology clinical development, expressed optimism about the acquisition. Wallace highlighted the significance of TREM1 as a key driver of inflammation and pathology in IBD and other conditions. She emphasized AbbVie’s eagerness to advance CEL383's development with the ultimate goal of helping more IBD patients achieve remission.

The acquisition process saw Covington & Burling serve as legal advisors to AbbVie, while Celsius was financially advised by Centerview Partners and legally by Goodwin Procter. Tariq Kassum, CEO of Celsius, expressed mutual enthusiasm about the potential of TREM1 inhibition for treating inflammatory diseases. Kassum acknowledged the relentless efforts of the Celsius team in discovering CEL383 and looked forward to its further development, hoping it would offer a novel approach to treating IBD.

This acquisition follows AbbVie's recent accelerated approval from the US Food and Drug Administration (FDA) for EPKINLY, a treatment for relapsed or refractory follicular lymphoma (R/R FL). These strategic moves underline AbbVie’s commitment to expanding its therapeutic arsenal for inflammatory and other serious diseases.