AbbVie is embracing summer’s heat, cranking up the M&A dial with the acquisition of inflammatory disease-focused Celsius Therapeutics for $250 million in cash.
The deal enters around Celsius’ lead asset, dubbed CEL383, a potential first-in-class anti-triggering receptor expressed on myeloid cells 1 (TREM1) antibody for treating inflammatory bowel disease (IBD). TREM1 has been identified as a key driving gene in IBD and is known to amplify inflammation.
While CEL383 has been tested out in a now-completed phase 1 clinical trial, the findings have not been publicly disclosed. The double-blind, single ascending dose study enrolled 48 healthy adults and wrapped up in January, according to ClinicalTrials.gov.
In preclinical models, the asset blocked TREM1 signaling, reducing the levels of multiple inflammatory mediators tied to inflammatory conditions, according to a June 27 press release.
“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,” Kori Wallace, M.D., Ph.D., AbbVie’s vice president and global head of immunology clinical development, said in the release.
Under the terms of the deal, AbbVie has purchased all outstanding Celsius equity for $250 million in cash.
The acquisition underscores the North Chicago-based pharma’s focus on raising the bar for standard-of-care treatments, an AbbVie spokesperson told Fierce Biotech via email.
Earlier this month, the Big Pharma doled out $150 million for licensing rights to FutureGen Biopharmaceutical's preclinical anti-TL1A candidate targeting IBD. That purchase was also made to help patients living with chronic conditions achieve remission, AbbVie's SVP and global head of discovery research Jonathon Sedgwick, Ph.D., said in a press release announcing the deal.
CEL383 is Third Rock-launched Celsius’ only known clinical-stage asset. The acquisition is a marked pivot in the biotech’s vision for itself five years ago. Back in 2019, when Celsius was chosen as a Fierce 15 winner, CEO Tariq Kassum, M.D., said the plan was to stay independent.
“The plan is to become a fully integrated drug discovery and development shop,” Kassum told Fierce at the time. “The long-term vision is to make this into something special and valuable; I don’t want us to just package it up for sale. We have a real shot at building something bold and unique, so we should try and do it from the ground up.”
Obviously, a lot can happen in five years, such as a world-altering pandemic and several-year biotech bear market.
Signs of hardship emerged in August 2023 for Celsius when the biotech laid off 75% of its team. The layoffs came at the same time as the phase 1 launch for CEL383.