AbbVie, Gilgamesh Ink $2B Deal for Next-Gen Psychiatric Psychedelics

AbbVie has entered into a collaborative agreement with Gilgamesh Pharmaceuticals to advance the development of next-generation psychedelic therapies aimed at treating psychiatric disorders. The deal includes an upfront payment of $65 million from AbbVie, along with potential additional payments that could total up to $1.95 billion, based on option and milestone achievements. Gilgamesh will also be eligible for tiered royalties ranging from mid-single to low-double digits on net sales.

As part of this collaboration, AbbVie will gain access to Gilgamesh’s innovative portfolio of psychedelic therapies, with the option to lead development and commercialization efforts on selected programs. However, the initial focus areas for these efforts have not been disclosed.

Jonathon Sedgwick, senior vice president and global head of discovery research at AbbVie, expressed that this partnership will allow AbbVie to explore innovative approaches to psychiatric disorders, addressing a significant unmet need in this medical field. This collaboration underscores AbbVie’s commitment to advancing treatment options in the realm of psychiatric care through novel technologies.

Gilgamesh’s drug development pipeline is driven by its proprietary platform, which integrates complex behavioral assessments, advanced electrophysiology, and molecular measures of neuroplasticity. This platform is designed to identify and create novel drugs with the assistance of artificial intelligence, which systematically evaluates the bioactivity of psychoactive compounds. The aim is to enhance the translation of these compounds into clinical use, promising more effective treatments with fewer side effects.

Gilgamesh has developed a pipeline of next-generation psychedelics, referred to as neuroplastogens. Unlike traditional psychedelic compounds that often cause significant psychoactive effects such as hallucinations, neuroplastogens target pathways that result in minimal side effects. The companies believe that these new treatments hold considerable promise for a range of psychiatric conditions, including anxiety and mood disorders.

This collaboration comes at a time of growing interest in the field of psychedelic therapies within the pharmaceutical industry. The evolving landscape in this sector has seen substantial advancements, making such therapies more viable for treating neuropsychiatric conditions.

For instance, in March 2024, Ansbert Gadicke, managing partner of MPM BioImpact, noted the improvements in the properties of psychedelic treatments, which have expanded their therapeutic potential, especially for conditions like anxiety and depression.

Prior to AbbVie's recent collaboration, other pharmaceutical companies have also shown increased interest in psychedelic therapies. Earlier this month, Reunion Neuroscience secured $103 million in a Series A funding round with backing from Novo Holdings, MPM BioImpact, Arkin Bio Capital, and other institutional investors. Reunion Neuroscience’s lead candidate, RE104, is aimed at treating postpartum depression.

Additionally, in March 2024, MindMed announced that its LSD-based candidate, MM120, received the FDA’s breakthrough designation for treating generalized anxiety disorder, following encouraging results from Phase IIb clinical trials.

The partnership between AbbVie and Gilgamesh represents a significant step in advancing the development of innovative psychedelic therapies, potentially transforming the treatment landscape for psychiatric disorders. By leveraging Gilgamesh’s advanced drug discovery platform and AbbVie’s developmental expertise, the collaboration aims to address the pressing needs within psychiatric care, offering new hope for patients suffering from conditions like anxiety and mood disorders.