AbbVie Buys Celsius Therapeutics for $250 Million
Provided by
Dow Jones
By Colin Kellaher
AbbVie on Thursday said it has acquired clinical-stage biotechnology company Celsius Therapeutics for $250 million in cash in a deal that bolsters its pipeline of potential treatments for inflammatory diseases.
AbbVie said Celsius' lead investigational asset, CEL383, has completed a Phase 1 clinical study for the treatment of inflammatory bowel disease, or IBD.
The North Chicago, Ill., biopharmaceutical company said CEL383 is a potential first-in-class antibody directed towards TREM1, which has been identified as a key disease driver gene in IBD.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 27, 2024 09:58 ET (13:58 GMT)
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