AbbVie announced today the acquisition of Celsius Therapeutics, Inc. (“Celsius”), a privately held biotechnology company pioneering new therapies for inflammatory diseases. Celsius’ lead investigational asset, CEL383, is a potential first-in-class anti-TREM1 antibody that has completed a Phase 1 clinical study for the treatment of inflammatory bowel disease (IBD).
TREM1 has been identified as a key gene driving IBD, expressed on inflammatory monocytes and neutrophils. In these and other cell types, TREM1 is upstream of multiple known inflammatory pathways, amplifying inflammation.
“Given TREM1’s potential role as a key driver of inflammation and pathology in IBD and other conditions, we are eager to advance CEL383’s development to help more patients with IBD achieve remission,” said Kori Wallace, M.D., Ph.D., vice president, global head of immunology clinical development at AbbVie.
“AbbVie shares our excitement about the potential of TREM1 inhibition for patients with inflammatory diseases,” said Tariq Kassum, M.D., CEO of Celsius. “I want to thank the Celsius team for their relentless efforts in discovering CEL383. We look forward to further developing this promising program, which we hope will offer a new approach to IBD treatment.”
Under the agreement terms, AbbVie has acquired all outstanding Celsius equity for $250 million in cash, subject to customary adjustments.
CEL383 is an investigational antibody targeting TREM1. In preclinical assays, CEL383 has been shown to inhibit TREM1 signaling, reducing levels of multiple inflammatory mediators relevant to inflammatory conditions. A Phase 1 first-in-human, randomized, double-blind, placebo-controlled, single ascending dose study evaluating the safety, tolerability, and pharmacokinetics of CEL383 in healthy volunteers has concluded (NCT05901883).
Advisors
AbbVie’s legal advisor was Covington & Burling LLP. Celsius’ financial advisor was Centerview Partners LLC, with Goodwin Procter LLP serving as legal advisor.
AbbVie’s mission is to discover and deliver innovative medicines and solutions to solve serious health issues today and address tomorrow’s medical challenges. We strive to have a remarkable impact on people’s lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter), and YouTube.
Celsius Therapeutics is a clinical-stage biotechnology company developing novel medicines for inflammatory diseases. The company’s lead therapeutic candidate is an anti-TREM1 antibody for the treatment of IBD. Celsius is based in Cambridge, Mass. For more information, please visit https://celsiustx.com, or follow us on LinkedIn or X (formerly Twitter).
Some statements in this news release may be considered forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Terms like “believe,” “expect,” “anticipate,” “project,” and similar expressions and uses of future or conditional verbs generally identify forward-looking statements. AbbVie cautions that these statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. These risks include challenges to intellectual property, competition from other products, difficulties in the research and development process, adverse litigation or government action, and changes to laws and regulations. Additional information about factors affecting AbbVie’s operations is set forth in Item 1A, “Risk Factors,” of AbbVie’s 2023 Annual Report on Form 10-K, filed with the Securities and Exchange Commission, and updated by subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to rely unduly on these statements, and AbbVie undertakes no obligation to publicly revise forward-looking statements as a result of subsequent events, except as required by law.
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