MedCity News June 30, 2024
AbbVie has acquired Celsius Therapeutics, a startup whose lead program is in early clinical development for inflammatory bowel disease. It’s the latest in a series of AbbVie business deals that broaden the pharma company’s scope in the gastrointestinal condition.
AbbVie has inflammatory bowel disease covered with blockbuster drugs now on the market and additional drug candidates in clinical development. The pharmaceutical giant is diversifying its IBD prospects, getting yet another candidate through the acquisition of Celsius Therapeutics, a clinical-stage startup whose lead program brings a different approach to treating inflammation.
Under deal terms announced late last week, AbbVie has acquired all outstanding shares of privately held Celsius for $250 million in cash.
Celsius’s lead program, CEL383, is an antibody designed...
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