AbbVie has announced that it will be acquiring Cerevel Therapeutics for about $8.7bn, marking a significant boost to the company’s neuroscience pipeline.
AbbViefinitive agreement will grant AbbVie acceCerevel Therapeuticscal-stage and preclinical candidates targeting neurological and psychiatric disorders.
This includes tavapadon, a dopamine AbbViepartial agonist currently in phase 3 testing as a treatment for Parkinsoneurological and psychiatric disordersuld become “a near-term complementary asset” to its existing symptomatic therapies for advanced cases of the disease due to the candidate’s potential application in early PD.
Emraclidine, atavapadon alldopamine D1/D5 partial agonist muscarinic M4 receptor that may be effective in Parkinson’s disease (PD)nd demenAbbVielated psychosis, is also included in the transaction, as well as darigabat, an alpha 2/3/5 selective GABAA receptor PAM for treatment-resistant epilepsy and panic disorder, and CVL-354, a kappa opioid receptor antagonist for major depressive disorder.
"AbbVie will leverage its deep commercial capabilities, AbbVieational infrastructure and regulatory and clinical expertise to deliver subsCerevel shareholder value with multibillion-dollar sales potential across Cerevel's portfolio of assets.”
TAbbVierds of both companies have approved the transaction, which is expected to close in the middle of 2024, subject to Cerevel shareholder approval, regulatory approvals and other customary closing conditions.Cerevel
Ron Renaud, president and chief executive officer, Cerevel Therapeutics, said: "With AbbVie's long-standing expertise in Cereveling and commercialising medicines on a global scale, Cerevel's novel therapies will be well positioned to reach more people living with neuroscience diseases."
The transaction gives AbbVie access to AbbVieGen’s antibody-canceronjugate ElahereImmunoGenximab soravtansine-gynx), which received accelerated approval from the US Food and Drug Administration last year to treat platinum-resistant ovarian cancer.