AbbVie has reportedly added Gilgamesh Pharmaceuticals to its shopping list. The Big Pharma teamed up with Gilgamesh last year and, according to Bloomberg, is now in talks about buying the mental health biotech outright for about $1 billion. Gilgamesh—a Fierce 15 2024 winner—bagged $65 million upfront from AbbVie last year. That deal, which included up to $1.95 billion in option fees and milestones, positioned AbbVie to work with the biotech on treatments for psychiatric disorders. Subsequently, Gilgamesh reported a 94% remission rate in a phase 2 trial of its psychedelic drug candidate in patients with major depressive disorder.
Read the full article: AbbVie Crowns Gilgamesh Its Next M&A Target with $1B Buyout Talks: Report //
Source: https://www.fiercebiotech.com/biotech/abbvie-talks-over-1b-buyout-crowns-gilgamesh-its-next-ma-target-report