Celsius Acquired by AbbVie for $250 million

AbbVie has announced the acquisition of privately held Cambridge biotech Celsius Therapeutics. Celsius is 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 inflammatory bowel disease (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, vice president, global head of immunology clinical development, AbbVie.

Under the terms of the agreement, AbbVie has acquired all outstanding Celsius equity for $250 million in cash, subject to certain customary adjustments. (Source: AbbVie Website, 27 June, 2024)