AbbVie completes acquisition of Celsius Therapeutics for $250m
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US-based biopharmaceutical company AbbVie has acquired Celsius Therapeutics, a biotechnology company developing therapies for inflammatory diseases, for $250m. The strategic move expands AbbVie’s footprint in the treatment of inflammatory diseases, adding a potentially transformative therapy to its pipeline. The acquisition terms stipulate that AbbVie will gain all outstanding equity of Celsius, subject to customary adjustments. The biotechnology company completed a Phase 1 first-in-human clinical study of its potential anti-TREM1 antibody in treating inflammatory bowel disease (IBD). CEL383 is an anti-triggering receptor expressed on the myeloid cells 1 (TREM1) antibody.
Celsius chief executive officer Tariq Kassum said: “AbbVie shares our excitement about the potential of TREM1 inhibition for patients with inflammatory disease. “I’d like to thank the Celsius team for their relentless efforts in the discovery of CEL383. We look forward to the further development of this promising program, which we hope will offer a new approach to the treatment of IBD.”
AbbVie vice president and immunology clinical development global head Kori Wallace said: “Given the potential relevance of TREM1 as a key driver of inflammation and pathology in IBD and other conditions, we are eager to advance the development of CEL383 with a goal of helping more patients with IBD achieve remission.”
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