AbbVie, Gilgamesh Sign Potential $2B Deal to Develop Next-Gen Psychedelics for Psychiatric Disorders

AbbVie

Pictured: AbbVie’s office in South San Francisco, California/iStock, vzphotos

AbbVie on Monday announced a collaboration and option-to-license deal with Gilgamesh Pharmaceuticals to develop next-generation psychedelic therapies for psychiatric disorders.

Under the terms of the agreement, AbbVie will make an upfront payment of $65 million and pledge up to $1.95 billion in option and milestone fees. Gilgamesh will also remain eligible for tiered royalties from mid-single to low-double digit royalties on net sales.

In return for its investment, AbbVie will be able to work with Gilgamesh on its portfolio of next-generation psychedelic therapies for psychiatric indications. The pharma will also have the option to lead the development and commercialization activities for specific programs, though the partners did not indicate initial focus areas.

Monday’s partnership will enable AbbVie to innovate in the field of psychedelics and “pursue novel technologies and approaches” to psychiatric disorders,…
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