AbbVie (ABBV.US) to invest $1.2 billion to acquire Gilgamesh's experimental anti-depressant therapy drug.

According to the financial news app Wise Finance, AbbVie (ABBV.US) has agreed to acquire an experimental antidepressant drug developed by Gilgamesh Pharmaceuticals for up to $1.2 billion. Under the terms of the agreement, AbbVie will acquire Gilgamesh's core candidate drug bretisilocin, which is being developed for the treatment of severe depression. At the same time, Gilgamesh will spin off its other research projects to form a new entity called Gilgamesh Pharma Inc. Both parties have stated that the transaction is subject to customary closing conditions.