AbbVie Acquires Celsius Therapeutics for $250 Million, Expanding Inflammatory Disease Portfolio

1. Acquisition Details: AbbVie has acquired Celsius Therapeutics, a biotech company focused on inflammatory diseases, for $250 million in cash.
2. Celsius Therapeutics Background: Celsius had raised $140 million in venture capital and laid off 75% of its staff in August 2023 before the acquisition.
3. AbbVie's M&A Activity: This acquisition is part of AbbVie's recent M&A spree, following deals with Landos Biopharma for $137.5 million and an oncology/immunology deal for $64 million.
4. Inflammatory Disease Focus: Celsius Therapeutics' portfolio aligns with AbbVie's strategic focus on inflammatory diseases, expanding its capabilities in this area.