Ropes & Gray represented Gilgamesh Pharmaceuticals in a collaboration and option-to-license agreement with AbbVie to develop next-generation therapies for psychiatric disorders. The collaboration announced on May 13 will leverage AbbVie’s experience in psychiatry medicine and Gilgamesh’s innovative research platform to discover novel neuroplastogens for treatment of mood and anxiety disorders with the aim of improving patient outcomes without the challenging effects associated with first-generation compounds.
Under the agreement, AbbVie and Gilgamesh have agreed to research and develop a portfolio of next-generation therapies for psychiatric disorders. Upon exercise of the option, AbbVie will lead development and commercialization activities. Gilgamesh will receive an upfront payment of $65 million from AbbVie and is eligible to receive up to $1.95 billion in aggregate option fees and milestones, as well as tiered royalties from mid-single to low-double digits on net sales.
The Ropes & Gray team was led by life sciences licensing partner Hannah England and life sciences licensing associate Ian Nilsen and included tax partner David Saltzman.
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