AbbVie has become the latest large pharmaceutical company to dip its toes into psychedelic drug development as it announced what might be the most substantial foray of its kind this morning.
The company, which is among the largest pharmaceutical firms in the world, announced a collaboration and option-to-license agreement with the privately held psychedelic drug developer Gilgamesh Pharmaceuticals.
The pair will focus on developing “next-generation neuroplastogens for the treatment of psychiatric disorders”, according to the press release. In that announcement, AbbVie tempers the “promising clinical efficacy” shown in studies of ‘classic psychedelics’ with mention of the fact that their “profound psychoactive effects, such as hallucinations, [necessitate] in-office administration and concomitant supportive care.”
AbbVie hopes that Gilgamesh’s candidates will provide significant clinical benefits while being “designed to minimize the challenging effects seen with first-generation compounds.”
The high-level terms of the agreement revolve around an option-to-license which, if exercised, would see AbbVie lead on the development and commercialisation of any given candidate.