AbbVie acquires Cerevel, boosting roster of therapeutic candidates
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AbbVie Inc. has acquired Cerevel Therapeutics and its pipeline of clinical stage and preclinical neuroscience candidates in development to address conditions such as Parkinson’s disease, schizophrenia and mood disorders.
According to a joint press release, the transaction, which has been approved by the boards of directors of both companies, is expected to complete by the middle of 2024.
“Our existing neuroscience portfolio and our combined pipeline with Cerevel represents a significant growth opportunity well into the next decade,” AbbVie Chairman and CEO Richard A. Gonzalez said in the release. “AbbVie will leverage its deep commercial capabilities, international infrastructure, and regulatory and clinical expertise to deliver substantial shareholder value with multibillion-dollar sales potential across Cerevel's portfolio of assets.”
Cerevel’s portfolio includes emraclidine, a positive allosteric modulator (PAM) of the muscarinic M4 receptor, a potential best-in-class, next-generation antipsychotic that may be effective in treating schizophrenia as well as dementia-related psychosis in Alzheimer’s disease and PD.
In addition, tavapadon, a first-in-class dopamine D1/D5 selective partial agonist for the management of PD which has potential for both monotherapy and adjunctive treatment, is currently in phase 3 studies.
The drug may provide a complement for AbbVie’s therapies for advanced PD, which include CVL-354, a kappa opioid receptor antagonist developed for improved efficacy and tolerability compared to existing treatments for major depressive disorder and darigabat, an alpha 2/3/5 selective GABAA receptor PAM for treatment-resistant epilepsy and panic disorder.
“With AbbVie’s long-standing expertise in developing and commercializing medicines on a global scale, Cerevel’s novel therapies will be well-positioned to reach more people living with neuroscience diseases,” Cerevel President and CEO Ron Renaud, said in the release. “This acquisition reinforces the renaissance we are seeing in neuroscience, and we are proud to be at the forefront."