- Celsius' CEL383 is a potential first-in-class
anti-Triggering Receptor Expressed on Myeloid Cells 1 (TREM1)
antibody for the treatment of inflammatory bowel disease
(IBD)
NORTH
CHICAGO, Ill., June 27,
2024 /PRNewswire/ -- AbbVie (NYSE: ABBV) announced
today the acquisition of Celsius Therapeutics, Inc. ("Celsius"), a
privately held biotechnology company pioneering new therapies
for patients with inflammatory disease. Celsius' lead
investigational asset is CEL383, a potential first-in-class
anti-TREM1 antibody that has completed a Phase 1 clinical study for
the treatment of IBD.
TREM1 has been identified as a key disease driver gene in IBD,
where it is expressed on inflammatory monocytes and neutrophils. In
these cell types and others, TREM1 is upstream of multiple known
inflammatory pathways and acts as an amplifier of inflammation.
"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," said Kori Wallace, M.D., Ph.D., vice president,
global head of immunology clinical development, AbbVie.
"AbbVie shares our excitement about the potential of TREM1
inhibition for patients with inflammatory disease," said
Tariq Kassum, M.D., chief executive
officer, Celsius. "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."
Under the terms of the agreement, AbbVie has acquired all
outstanding Celsius equity for $250
million in cash, subject to certain customary
adjustments.
About CEL383
CEL383 is an investigational antibody
directed towards TREM1. In preclinical assays, CEL383 has been
shown to inhibit TREM1 signaling, reducing the levels of multiple
inflammatory mediators of high clinical relevance in 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
and Goodwin Procter LLP served as legal advisor.
About AbbVie
AbbVie's mission is to discover and
deliver innovative medicines and solutions that solve serious
health issues today and address the medical challenges of tomorrow.
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 us at
www.abbvie.com. Follow @abbvie on LinkedIn, Facebook,
Instagram, X (formerly Twitter), and YouTube.
About Celsius Therapeutics
Celsius Therapeutics is a
clinical-stage biotechnology company developing novel medicines in
inflammatory disease. 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).
Forward-Looking Statements
Some statements in this
news release are, or may be considered, forward-looking statements
for purposes of the Private Securities Litigation Reform Act of
1995. The words "believe," "expect," "anticipate," "project" and
similar expressions and uses of future or conditional verbs,
generally identify forward-looking statements. AbbVie cautions that
these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those expressed or implied in the forward-looking statements.
Such risks and uncertainties include, but are not limited to,
challenges to intellectual property, competition from other
products, difficulties inherent in the research and development
process, adverse litigation or government action, and changes to
laws and regulations applicable to our industry. Additional
information about the economic, competitive, governmental,
technological and other factors that may affect AbbVie's operations
is set forth in Item 1A, "Risk Factors," of AbbVie's 2023 Annual
Report on Form 10-K, which has been filed with the Securities and
Exchange Commission, as updated by its subsequent Quarterly Reports
on Form 10-Q. Forward looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward looking statements, and AbbVie undertakes no obligation,
and specifically declines, to release publicly any revisions to
forward-looking statements as a result of subsequent events or
developments, except as required by law.
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SOURCE AbbVie