AbbVie Buys Celsius for $250M to Boost Immuno Portfolio as Humira Faces Patent Cliff

AbbVie announced it has acquired the Cambridge, Massachusetts-based startup Celsius Therapeutics, including its lead antibody for inflammatory bowel disease (IBD), CEL383. The acquisition deal, valued at $250 million in cash, will see AbbVie take over all of Celsius' remaining equity, with certain adjustments possible. However, the companies have not specified the expected closing date for the transaction.

Kori Wallace, AbbVie's global head of immunology clinical development, expressed enthusiasm about advancing CEL383's development to aid more IBD patients in achieving remission. CEL383, developed using Celsius' proprietary SCOPE platform, targets the TREM1 protein, which plays a crucial role in mediating interactions between the microbiome and the immune system, thereby amplifying mucosal inflammation. Preclinical studies have shown that CEL383 can effectively disrupt TREM1 signaling, reducing the concentration of various inflammatory mediators. The antibody has recently completed a Phase I trial in healthy volunteers, assessing its safety, tolerability, and pharmacokinetic profile.

The acquisition aligns with AbbVie's strategy to strengthen its portfolio, especially as it faces significant patent expirations for its blockbuster immunotherapy, Humira (adalimumab). Despite losing key patent protections, Humira has maintained market dominance even with the introduction of biosimilars in the U.S. market. However, in April 2024, CVS Caremark’s decision to delist Humira from its major national commercial formularies has boosted the demand and sales for biosimilar alternatives.

To counterbalance the revenue impact from Humira’s patent cliff and fuel future growth, AbbVie has been actively pursuing a series of strategic deals. In February 2024, AbbVie invested $713 million for exclusive rights to develop, manufacture, and commercialize OSE Immunotherapeutics' investigational antibody OSE-230, aimed at treating chronic and severe inflammation. Shortly thereafter, AbbVie spent $212 million to acquire Landos Biopharma, gaining access to the oral NLRX1 agonist NX-13, which is being explored as a treatment for ulcerative colitis and Crohn’s disease. These acquisitions are part of AbbVie's broader initiative in the projected $257 billion immunology market.

Beyond its focus on immunology, AbbVie has also significantly invested in the mental health sector. In May 2024, the company entered a potential $2 billion agreement with Gilgamesh Pharmaceuticals to develop neuroplastogens for psychiatric disorders. This move underscores AbbVie's commitment to diversifying its portfolio and tapping into the growing demand for mental health treatments.

AbbVie’s strategic acquisitions and investments reflect its efforts to mitigate the financial impact of Humira’s patent expiration while positioning itself for long-term growth in both the immunology and mental health markets.