AbbVie bets $2B on Gilgamesh's non-hallucinogenic psychedelics approach

AbbVie has entered a significant partnership with Gilgamesh Pharmaceuticals, aiming to advance the development of innovative drugs for psychiatric disorders. The collaboration, potentially worth up to $2 billion, focuses on creating a new class of medications that offer the therapeutic benefits of traditional psychedelics but without their psychoactive side effects.

The primary goal of this partnership is to leverage Gilgamesh's advanced research platform to develop neuroplastogens. These compounds are designed to mimic the positive effects of classic psychedelics, such as improved mood and cognitive function, while avoiding undesirable effects like hallucinations. Additionally, these new drugs would eliminate the need for in-office administration and the intensive supportive care that first-generation psychedelics require.

Jonathon Sedgwick, AbbVie's global head of discovery research, emphasized the necessity of pioneering new technologies and methods to address the substantial unmet needs in psychiatric care. He expressed optimism that neuroplastogens could revolutionize treatment options for psychiatric disorders, offering more effective and manageable therapies.

Neuroplastogens work by targeting mechanisms that could provide substantial clinical benefits while minimizing the adverse effects associated with traditional psychedelics. Gilgamesh's platform is instrumental in this endeavor, utilizing complex behavioral models, electrophysiological techniques, and molecular measures of neuroplasticity. Machine learning algorithms further aid in systematically mapping the bioactivity of various psychoactive compounds, enhancing the precision and efficiency of the research.

As part of the collaboration, AbbVie and Gilgamesh will jointly research and develop a portfolio of next-generation therapeutics aimed at treating psychiatric conditions. Gilgamesh stands to receive an initial payment of $65 million, with the potential to earn up to $1.95 billion from option fees, milestones, and tiered royalties based on future net sales. Should AbbVie exercise its option, it will take on the responsibility for the development and commercialization of the resulting therapies.

Gilgamesh's current internal pipeline includes GM-5022, a neuroplastogen in early development that is both oral and non-hallucinogenic, targeting depression and anxiety. In addition, the company has two leading programs: GM-1020, an oral NMDA receptor antagonist, and GM-2505, a short-acting 5-HT2A agonist. Both compounds are in Phase II trials for major depressive disorder, showing promising progress in clinical development.

Previously, Gilgamesh secured funding through two rounds of investment, raising $27 million and $39 million in series A and B rounds, respectively. This financial backing has been crucial in advancing their research and development efforts to this promising stage.

In summary, the collaboration between AbbVie and Gilgamesh Pharmaceuticals represents a significant step forward in the field of psychiatric treatment. By focusing on the development of neuroplastogens, the partnership aims to provide new, effective, and safer therapeutic options for individuals suffering from psychiatric disorders, potentially transforming the landscape of mental health care.