STAT+: AbbVie to buy Gilgamesh\u2019s psychedelic drug for up to $1.2 billion
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AbbVie on Monday said it will buy Gilgamesh Pharmaceuticals\u2019 investigational psychedelic drug to treat major depression, a sign that pharma companies are warming up more to the burgeoning field.<\/p>\n
The pharma giant will acquire the treatment, called bretisilocin, for up to $1.2 billion, including an upfront payment and development milestones. Meanwhile, Gilgamesh will spin off a new company called Gilgamesh Pharma Inc. for its staff and other drug programs.<\/p>\n
The move builds on AbbVie\u2019s growing focus on neuroscience. The company had already signed<\/a> a collaboration agreement with Gilgamesh. Last year, it also acquired<\/a> Cerevel Therapeutics for $9 billion, but following the closing of the deal, the key schizophrenia drug at the center of the acquisition failed to show benefits<\/a> in key trials.<\/p>\n Continue to STAT+ to read the full story\u2026<\/a><\/p>\n<\/div>\n