AbbVie/ABBV.us (AbbVie/ABBV.us) and Gilgamesh Pharmaceuticals announced a collaboration and licensing option agreement to develop next-generation treatments for mental illness.
The Zhitong Finance App learned that AbbVie/ABBV.us (AbbVie/ABBV.us) and Gilgamesh Pharmaceuticals announced a cooperation and licensing option agreement to develop next-generation treatments for mental illness. The collaboration will utilize AbbVie's expertise in psychiatry and Gilgamesh's innovative research platform to discover novel neuroplasteners (neuroplasteners).
Under the terms of the agreement, AbbVie and Gilgamesh will jointly research and develop a next-generation treatment package for mental disorders. After exercising the right of option, AbbVie will be responsible for the subsequent development and commercialization of the R&D project. Gilgamesh will receive $65 million in advance and is eligible for milestone payments of up to $1.95 billion.
Next-generation compounds known as neuromodulators are reported to target mechanisms that have been shown to provide significant clinical benefits and aim to minimize potential side effects. Using its innovative research platform, Gilgamesh has successfully discovered lead compounds in this new treatment class.