AbbVie acquires Celsius Therapeutics for $250M in cash

AbbVie announced the acquisition of Celsius Therapeutics, a privately held biotechnology company pioneering new therapies for patients with inflammatory disease. Celsius’ lead investigational asset is CEL383, a potential first-in-class anti-TREM1 antibody that has completed a Phase 1 clinical study for the treatment of IBD. Under the terms of the agreement, AbbVie has acquired all outstanding Celsius equity for $250M in cash, subject to certain customary adjustments.