Cerevel Therapeutics Holdings, Inc. is an American biotechnology and pharmaceuticals company based in Cambridge, Massachusetts, focused on the development of novel therapies for mental and neurological illnesses.[1]
| Company type | Subsidiary |
|---|---|
| |
| Industry | Biopharmaceuticals |
| Founded | 2018 |
| Fate | Acquired by AbbVie |
| Headquarters | Cambridge, Massachusetts, U.S. |
Number of employees | 355 (2024) |
| Parent | Abbvie |
| Website | cerevel |
History
editCerevel was established in October 2018.[2] The company was formed in a collaboration between pharmaceuticals company Pfizer and private equity firm Bain Capital.[3][4]
In 2019, Cerevel appointed N. Anthony Coles as its chief executive officer. [5]In 2020, Coles led Cerevel's effort to raise $445 million for brain drugs, the third largest biotech public listing at that time (after Legend Biotech and Moderna).[6] In May 2023, Coles resigned from his position as CEO, yet retained his role as board chairman of Cerevel.[7]
In December 2023, American pharmaceutical company AbbVie announced its intention to acquire Cerevel for US$8.7 billion.[8][9][10] The acquisition was completed in August 2024 with Cerevel becoming a subsidiary of Abbvie.[11][12]
Pipeline
editCerevel uses novel approaches and technologies to develop its own drugs and treatment therapies. Its pipeline contains an array of drugs and therapies treating a range of conditions including Schizophrenia, Parkinson's, Epilepsy, mood disorders, and more.[13]
Notable Cerevel drugs and treatments at varying stages of development include:
Approach to treatment
editCerevel's tagline mission statement is to "unravel the mysteries of the brain" to treat neurological disease.[19] Scientifically, its approach to therapy development focuses on understanding the wiring of the brain, pursuing novel targets, and addressing specific receptor sub-types.[1]
The company has stated its approach to neurotherapy development can be viewed as:
- Development of treatment opportunities by precisely identifying and targeting the neurocircuitry that underlies a given neurological disease.[1]
- Selective targeting of only the relevant receptor subtype(s) related to the physiology of the disease being treated. This has the impact of minimizing undesired off-target and side effects, while maximizing activity.[1]
- The design of full and partial agonists, antagonists and allosteric modulators that can precisely fine-tune the receptor pharmacology and neurocircuit activity, without over-activation or over-suppression of the endogenous physiologic range.[1]
References
edit- ^ a b c d e "The Last Frontier of Medicine". Neurology live. 2023-04-21. Retrieved 2024-01-13.
- ^ Logan, Tim (August 7, 2019). "Pfizer spinoff Cerevel moving into Cambridge Crossing". The Boston Globe. Retrieved 2024-01-13.
- ^ "Bain Capital And Pfizer Create New CNS Company Cerevel Therapeutics". markets.businessinsider.com. 2024-01-12. Retrieved 2024-01-13.
- ^ Brodwin, Erin. "Drug giant Pfizer isn't ready to abandon neuroscience — here's its $150-million 'star cluster' strategy for betting on promising brain drug startups". Business Insider. Retrieved 2024-01-13.
- ^ Eides, Rachel. In the News: Cerevel Therapeutics Appoints Biotechnology Leader Tony Coles, M.D., as Chief Executive Officer. W20 pure. https://www.cerevel.com/newsroom/cerevel-therapeutics-appoints-biotechnology-leader-tony-coles-m-d-as-chief-executive-officer/
- ^ Garde, Damian, and Matthew Herper. Coles-led Cerevel Therapeutics to raise $445 million to develop brain drugs with fewer side effects. STAT. July 30, 2020. https://www.statnews.com/2020/07/30/coles-led-cerevel-therapeutics-to-raise-445-million-to-develop-brain-drugs-with-fewer-side-effects/
- ^ Peebles, Angelica. Cerevel CEO Tony Coles Steps Down From Neuroscience Biotech: Bain Partner, former Translate Bio CEO will replace Coles, Coles to leave CEO post in June, to remain board chairman. Bloomberg. May 3, 2023. https://www.bloomberg.com/news/articles/2023-05-03/cerevel-ceo-tony-coles-steps-down-succeeded-by-ex-translate-bio-s-renaud
- ^ Constantino, Annika Kim (2023-12-06). "AbbVie to acquire neuroscience drugmaker Cerevel Therapeutics for $8.7 billion". CNBC. Retrieved 2024-01-13.
- ^ Armstrong, Annalee (December 6, 2023). "AbbVie adds to neuroscience portfolio with $8.7B deal to acquire Cerevel". Fierce Biotech. Retrieved January 13, 2024.
- ^ "AbbVie to Acquire Cerevel Therapeutics in Transformative Transaction to Strengthen Neuroscience Pipeline". AbbVie News Center. Retrieved 2024-01-13.
- ^ "AbbVie Completes Acquisition of Cerevel Therapeutics" (Press release). AbbVie. August 1, 2024.
- ^ Green, Hannah (July 26, 2024). "After FTC involvement, here's when AbbVie-Cerevel deal could close". Boston Business Journal.
- ^ "EMPOWERing the Next Generation". Psychiatric Times. 2023-09-13. Retrieved 2024-01-13.
- ^ "Cerevel Therapeutics Initiates Phase 3 Program of Tavapadon for the Treatment of Parkinson's Disease – Cerevel Therapeutics". www.cerevel.com. 2020-01-14. Retrieved 2024-01-13.
- ^ "Emraclidine – Cerevel Therapeutics". www.cerevel.com. 2020-01-04. Retrieved 2024-01-13.
- ^ "Cerevel Therapeutics Announces Publication of Phase 2a Study Results in Neurology on Its Most Advanced Investigational Epilepsy Treatment – Cerevel Therapeutics". www.cerevel.com. 2019-04-09. Retrieved 2024-01-13.
- ^ "CVL-871 – Cerevel Therapeutics". www.cerevel.com. 2020-01-02. Retrieved 2024-01-13.
- ^ "CVL-354, a novel, brain penetrant and selective kappa opioid receptor antagonist – Cerevel Therapeutics". www.cerevel.com. 2022-12-01. Retrieved 2024-01-13.
- ^ "EX-99". www.sec.gov. Retrieved 2024-01-13.
External links
edit- Official website
- Historical business data for Cerevel Therapeutics Holdings, Inc.:
- SEC filings