Cerevel Therapeutics Explained

Cerevel Therapeutics Holdings, Inc.
Type:Subsidiary
Industry:Biopharmaceuticals
Fate:Acquired by AbbVie
Num Employees:355 (2024)
Parent:Abbvie

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]

History

Cerevel 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

Cerevel 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

Cerevel'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:

References

  1. Web site: 2023-04-21 . The Last Frontier of Medicine . 2024-01-13 . Neurology live . en.
  2. Web site: Logan . Tim . August 7, 2019 . Pfizer spinoff Cerevel moving into Cambridge Crossing . 2024-01-13 . The Boston Globe . en-US.
  3. Web site: 2024-01-12 . Bain Capital And Pfizer Create New CNS Company Cerevel Therapeutics . 2024-01-13 . markets.businessinsider.com . en.
  4. Web site: 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 . 2024-01-13 . Business Insider . en-US.
  5. 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/
  6. 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/
  7. 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
  8. Web site: Constantino . Annika Kim . 2023-12-06 . AbbVie to acquire neuroscience drugmaker Cerevel Therapeutics for $8.7 billion . 2024-01-13 . CNBC . en.
  9. Web site: Armstrong . Annalee . December 6, 2023 . AbbVie adds to neuroscience portfolio with $8.7B deal to acquire Cerevel . January 13, 2024 . Fierce Biotech.
  10. Web site: AbbVie to Acquire Cerevel Therapeutics in Transformative Transaction to Strengthen Neuroscience Pipeline . 2024-01-13 . AbbVie News Center . en.
  11. AbbVie Completes Acquisition of Cerevel Therapeutics . August 1, 2024 . AbbVie.
  12. Web site: After FTC involvement, here’s when AbbVie-Cerevel deal could close . July 26, 2024 . Green . Hannah . Boston Business Journal.
  13. Web site: 2023-09-13 . EMPOWERing the Next Generation . 2024-01-13 . Psychiatric Times . en.
  14. Web site: 2020-01-14 . Cerevel Therapeutics Initiates Phase 3 Program of Tavapadon for the Treatment of Parkinson's Disease – Cerevel Therapeutics . 2024-01-13 . www.cerevel.com . en-US.
  15. Web site: 2020-01-04 . Emraclidine – Cerevel Therapeutics . 2024-01-13 . www.cerevel.com . en-US.
  16. Web site: 2019-04-09 . Cerevel Therapeutics Announces Publication of Phase 2a Study Results in Neurology on Its Most Advanced Investigational Epilepsy Treatment – Cerevel Therapeutics . 2024-01-13 . www.cerevel.com . en-US.
  17. Web site: 2020-01-02 . CVL-871 – Cerevel Therapeutics . 2024-01-13 . www.cerevel.com . en-US.
  18. Web site: 2022-12-01 . CVL-354, a novel, brain penetrant and selective kappa opioid receptor antagonist – Cerevel Therapeutics . 2024-01-13 . www.cerevel.com . en-US.
  19. Web site: EX-99 . 2024-01-13 . www.sec.gov.

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