FX.co ★ AbbVie Acquires Celsius Therapeutics For $250 Mln

On Thursday, AbbVie (ABBV) announced its acquisition of Celsius Therapeutics, Inc., a private biotechnology firm developing innovative therapies for inflammatory diseases, for $250 million in cash.

Celsius' leading investigational candidate is CEL383, a pioneering anti-TREM1 antibody that has completed a Phase 1 clinical trial for treating inflammatory bowel disease (IBD).

TREM1 has been identified as a significant gene driving IBD, being expressed on inflammatory monocytes and neutrophils. In these and other cell types, TREM1 is upstream of various known inflammatory pathways, amplifying inflammation.

"Given TREM1's potential critical role in driving inflammation and pathology in IBD and other conditions, we are excited to advance CEL383's development with the aim of helping more patients achieve remission," said Kori Wallace, M.D., Ph.D., Vice President and Global Head of Immunology Clinical Development at AbbVie.

"AbbVie shares our enthusiasm about the potential of TREM1 inhibition for patients with inflammatory diseases," stated Tariq Kassum, M.D., Chief Executive Officer of Celsius Therapeutics. "I want to extend my gratitude to 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 novel approach to treating IBD."