AbbVie acquires Celsius Therapeutics for $250 million, gaining CEL383, an anti-TREM1 antibody for inflammatory bowel disease. This move enhances AbbVie's biopharmaceutical portfolio and accelerates innovative therapies in chronic inflammation.

CHICAGO: AbbVie has announced its acquisition of Celsius Therapeutics, Inc. ("Celsius"), a pioneering biotechnology firm focused on developing novel therapies for inflammatory diseases. Celsius' primary asset, CEL383, an anti-TREM1 antibody, has successfully completed Phase 1 clinical trials for treating inflammatory bowel disease (IBD). TREM1, identified as a pivotal disease-driving gene in IBD, is expressed in inflammatory monocytes and neutrophils, amplifying inflammation through various pathways.

Under the terms of the agreement, AbbVie has purchased all outstanding equity of Celsius for $250 million in cash, subject to customary adjustments. CEL383 targets TREM1, demonstrating promising results in preclinical studies by inhibiting TREM1 signaling and reducing levels of key inflammatory mediators associated with inflammatory conditions.

AbbVie was advised by Covington & Burling LLP, while Centerview Partners LLC and Goodwin Procter LLP acted as financial and legal advisors to Celsius, respectively. This acquisition underscores AbbVie's strategic expansion in the biopharmaceutical sector, enhancing its pipeline with innovative treatments for chronic inflammatory diseases. The transaction leverages Celsius' expertise in immunology and AbbVie's robust capabilities in drug development and commercialization.

This acquisition aligns with AbbVie's commitment to advancing therapies that address significant unmet medical needs, particularly in chronic inflammatory disorders. By integrating Celsius' research and development capabilities, AbbVie aims to accelerate the progress of CEL383 and potentially bring new treatment options to patients suffering from IBD and other inflammatory conditions.

Kori Wallace, M.D., Ph.D., vice president, global head of immunology clinical development, AbbVie 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.”

Tariq Kassum, M.D., chief executive officer, Celsius 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.”