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Industries
Biotechnology
Healthcare
Company Size
51-200
Company Stage
IPO
Total Funding
$654.6M
Headquarters
Cambridge, Massachusetts
Founded
2018
Cerevel Therapeutics develops new treatments for diseases related to the brain and nervous system. The company focuses on conditions like Parkinson's disease, epilepsy, and schizophrenia, using a deep understanding of how different parts of the brain communicate to create effective therapies. Their approach combines advanced chemistry with the study of how drugs interact with brain receptors. Unlike many competitors, Cerevel is dedicated specifically to neuroscience and is currently in the clinical trial phase, testing the safety and effectiveness of its drug candidates. The goal of Cerevel is to provide new treatment options for the millions of people affected by these challenging diseases, ultimately transforming the landscape of neuroscience.
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Total Funding
$654.6M
Above
Industry Average
Funded Over
7 Rounds
AbbVie's experimental schizophrenia drug, emraclidine, acquired through a $9 billion purchase of Cerevel Therapeutics, failed to show significant patient improvement in Phase 2 trials using the PANSS test compared to a placebo. AbbVie's chief scientific officer, Roopal Thakkar, expressed disappointment and stated that the company is analyzing the data to determine next steps.
AbbVie has completed the acquisition of Cerevel Therapeutics, a company with a portfolio of neurological and psychiatric products. AbbVie acquired all outstanding shares of Cerevel for $45 (€40.47) each. Cerevel's shares ceased trading on NASDAQ on August 1, 2024. AbbVie expects the acquisition to increase earnings per share starting in 2030.
Cerevel, meanwhile, was acquired by AbbVie for $8.7 billion.
AbbVie has completed its acquisition of Cerevel Therapeutics for approximately $8.7 billion-strengthening its foundation in neuroscience and positioning itself to deliver sustainable long-term performance.
AbbVie's acquisition of Cerevel Therapeutics for nearly $9 billion, announced in December 2023, is expected to close soon, potentially as early as next week, despite an FTC "second request" for additional information in February. AbbVie CEO Rob Michael confirmed substantial compliance with the FTC's request and no expected divestments. Cerevel will become a subsidiary of AbbVie, enhancing its neuroscience franchise. Cerevel’s stock rose 2.4%, and AbbVie’s rose 3.4% post-announcement.
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Industries
Biotechnology
Healthcare
Company Size
51-200
Company Stage
IPO
Total Funding
$654.6M
Headquarters
Cambridge, Massachusetts
Founded
2018
Find jobs on Simplify and start your career today