AbbVie buys Gilgamesh depression drug in $1.2 billion deal
AbbVie has agreed to acquire an experimental depression treatment from Gilgamesh Pharmaceuticals in a deal worth up to $1.2 billion, marking a significant step in the drugmaker’s push into next-generation psychiatric medicines.
Under the agreement, AbbVie will acquire Gilgamesh’s lead asset, bretisilocin (GM-2505), an investigational therapy for major depressive disorder (MDD), Bloomberg reported. Gilgamesh will spin off its remaining drug programs into a new company, Gilgamesh Pharma Inc. The transaction remains subject to customary closing conditions.
Expanding AbbVie’s Psychiatric Pipeline
“This acquisition underscores our commitment to broadening and enhancing psychiatric care by investing in novel treatment approaches with the potential to reach patients for whom other treatments have been ineffective,” said AbbVie’s chief scientific officer, Roopal Thakkar, in a statement.
The deal follows AbbVie’s recent setback in psychiatry after a schizophrenia drug it had acquired failed in mid-stage clinical trials. With the addition of bretisilocin, the company is aiming to strengthen its pipeline in an area where treatment innovation remains a major unmet need.
Psychedelics Gain Ground in Mental Health Research
The move reflects a growing pharmaceutical industry interest in psychedelics and related compounds for treating psychiatric disorders. More than 20 million adults in the United States live with major depressive disorder, with roughly 30% showing resistance to existing therapies.
Gilgamesh has been developing a new class of compounds known as neuroplastogens—fast-acting, next-generation psychedelics designed to enhance neuroplasticity without triggering hallucinations. In May, Gilgamesh reported positive study results for bretisilocin in patients with major depressive disorder.
Analysts say the transaction is notable given that large pharmaceutical companies have historically hesitated to pursue psychedelics due to regulatory hurdles. “Making today’s deal more significant,” wrote Evan Seigerman, an analyst at BMO Capital Markets.
A Continuation of Collaboration
The acquisition builds on a collaboration AbbVie and Gilgamesh established in 2021 to develop novel psychedelic-inspired compounds for mental health. As part of the latest deal, the companies’ existing option-to-license agreement will be transferred to the newly formed Gilgamesh Pharma Inc.
Market Reaction
Shares of AbbVie fell less than 1% in New York trading following the announcement.
