AbbVie to buy neuroscience specialist Cerevel Therapeutics for $8.7bn

AbbVie has signed a definitive agreement to acquire Cerevel Therapeutics and its neuroscience pipeline – including antipsychotic emraclidine – for approximately $8.7 billion.

Cerevel’s pipeline includes multiple clinical-stage and preclinical candidates with potential across several diseases including schizophrenia, Parkinson’s disease, and mood disorders.

AbbVie said the acquisition complements its neuroscience portfolio, adding a range of assets with potential across psychiatric and neurological disorders with unmet need.

“Our existing neuroscience portfolio and our combined pipeline with Cerevel represents a significant growth opportunity well into the next decade,” commented Richard A. Gonzalez, chairman and chief executive officer of AbbVie.

Cerevel’s neuroscience assets in clinical development 

As part of the deal AbbVie will acquire antipsychotic emraclidine, which is currently in Phase II trials for schizophrenia and has potential in dementia-related psychosis in Alzheimer’s and Parkinson’s diseases.

Emraclidine is a positive allosteric modulator (PAM) of the muscarinic M4 receptor. The drug has shown promising efficacy and safety in a Phase Ib study for schizophrenia. A Phase I study of emraclidine is also underway in in elderly healthy volunteers in support of a potential Alzheimer’s disease psychosis programme.

Cerevel’s other neuroscience assets in clinical development include:

• Tavapadon, a first-in-class dopamine D1/D5 selective partial agonist for the management of Parkinson’s disease, currently in Phase III trials.
• CVL-354, a kappa opioid receptor (KOR) antagonist that is currently in Phase I trials for treatment of major depressive disorder (MDD).
• Darigabat, an alpha 2/3/5 selective GABAA receptor PAM for treatment-resistant epilepsy and panic disorder, which is currently undergoing Phase II clinical trials.

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AbbVie’s recent acquisitions

This is the third acquisition announced by AbbVie this quarter. The transaction is expected to close in the middle of 2024, subject to Cerevel shareholder approval, regulatory approvals, and other customary closing conditions. 

In October, AbbVie completed the acquisition of Mitokinin, a discovery-stage neuroscience company. Mitokinin is developing a selective PINK1 activator, designed to address mitochondrial dysfunction that is believed to be a major contributing factor to Parkinson’s disease pathogenesis and progression.

AbbVie also agreed a $10.1 billion deal to acquire ImmunoGen and its antibody-drug conjugate ELAHERE ® (mirvetuximab soravtansine-gynx), which is approved for platinum-resistant ovarian cancer (PROC).