Cerevel Therapeutics
↗Cambridge, Massachusetts, USA
Cerevel Therapeutics was a biopharmaceutical company founded in October 2018 through a collaboration between Pfizer and Bain Capital to develop novel therapies for central nervous system (CNS) disorders. The company focused on understanding brain wiring and neurocircuitry, pursuing novel targets, and addressing specific receptor sub-types through advanced chemistry and CNS-targeted pharmacology. Cerevel's approach combined disease-related biology with neurobiological expertise to develop treatments for serious neuropsychiatric and neurodegenerative conditions including schizophrenia, Parkinson's disease, Alzheimer's disease psychosis, epilepsy, panic disorder, and depression. In December 2023, AbbVie announced plans to acquire Cerevel, completing the transaction in August 2024 for $8.7 billion, bringing Cerevel's clinical-stage neuroscience pipeline under AbbVie's ownership.
CLASSIFICATION
Company Type:Biotech
Therapeutic Areas:-
Industry:Pharmaceuticals
Sub-Industry:CNS/Neuroscience Therapeutics
SIZE & FINANCIALS
Employees:201-500
Revenue:Unknown (clinical stage company at time of acquisition)
Founded:2018
Ownership:subsidiary
Status:acquired
FUNDING
Stage:Public (pre-acquisition)
Total Raised:$1,500M
Investors:Bain Capital Private Equity, Bain Capital Life Sciences, Adage Capital Management, Ally Bridge Group, Altium Capital Management, NovaQuest Capital Management, ARYA Sciences Acquisition II
STOCK
Exchange:NASDAQ
Ticker:CERE
PIPELINE
Stage:Phase 1-3
Lead Drug Stage:Phase 3 (Tavapadon for Parkinson's Disease)
Modalities:Small molecule, D1/D5 dopamine receptor partial agonists, GABA receptor PAMs, Muscarinic acetylcholine receptor modulators, Kappa opioid receptor antagonists
Trial Phases:Phase 1: 1 | Phase 2: 3 | Phase 3: 1
FDA Approvals:0
EMA Approvals:0
CORPORATE STRUCTURE
Parent Company:AbbVie
Acquired By:AbbVie (2024-08-01)
Key Partnerships:Pfizer: Pfizer contributed pre-commercial CNS assets to Cerevel at founding, retained 25% ownership, Bain Capital: Bain Capital invested $350M at founding, owned 75% of the company
COMPETITION
Position:Niche Player
Competitors:Biogen, ACADIA Pharmaceuticals, Jazz Pharmaceuticals, Alnylam Pharmaceuticals, Immunocore Holdings, Ionis Pharmaceuticals, C4 Therapeutics, Syndax Pharmaceuticals +1 more
LEADERSHIP
Key Executives:
Ron Renaud - President and Chief Executive Officer
Tony Coles - Board Chairman
Scientific Founders:Founded through Pfizer-Bain Capital partnership leveraging Pfizer's CNS research expertise
Board Members:Tony Coles (Board Chair)
LINKS
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