09:34 AM EDT, 05/13/2024 (MT Newswires) -- AbbVie ( ABBV ) and Gilgamesh Pharmaceuticals said Monday that they have entered into an option-to-license agreement to develop neuroplastogens to treat psychiatric disorders.

Development and commercialization activities will be led by AbbVie ( ABBV ) upon exercise of the option, according to the companies.

Gilgamesh will get $65 million in upfront payment from AbbVie ( ABBV ) and will be eligible to get up to $1.95 billion in option fees and milestones as well as tiered royalties from mid-single to low-double digits on net sales, the companies said.

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