Healis Therapeutics acquires ownership of key botulinum toxin patent

Healis Therapeutics has secured ownership of a crucial botulinum toxin patent from AbbVie (NYSE: ABBV).

Rhea-AI Summary

Healis Therapeutics has secured ownership of a crucial botulinum toxin patent from AbbVie (NYSE: ABBV). This license transfer allows Healis to develop this treatment for Major Depressive Disorder (MDD), following successful results in eight Phase II trials. The acquisition is poised to expedite Healis' mission in the neuromuscular therapeutics space. However, it's important to note that, as of February 2022, botulinum toxin is still not FDA approved for MDD and remains under investigational use only.

Positive

• Healis acquires exclusive license for botulinum toxin patent from AbbVie.
• Eight successful Phase II clinical trials completed for botulinum toxin as MDD treatment.
• Acquisition expected to accelerate Healis' development of botulinum toxin for depression.

Negative

• Botulinum toxin is not FDA approved for MDD and is under investigational use only.

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WASHINGTON, Feb. 10, 2022 /PRNewswire/ -- Healis Therapeutics, a privately held biotechnology company, today announces its ownership of a key botulinum toxin patent from AbbVie (NYSE: ABBV).

After clinically significant results in early trials, Allergan acquired the rights to develop botulinum toxin for depression in 2013. Allergan completed a Phase II study in 2017 and announced plans for Phase III. AbbVie assumed ownership through its 2020 acquisition of Allergan.

Today, Healis Therapeutics takes over the exclusive license from AbbVie to develop botulinum toxin as a potential treatment for Major Depressive Disorder (MDD).

As of February 2022, botulinum toxin for depression has passed through eight successful Phase II clinical trials.

Ownership of the exclusive license is expected to accelerate Healis' mission to develop BT for depression.

Disclaimer: As of 10 February 2022, botulinum toxin is not an FDA approved drug for the treatment of major depressive disorder (MDD). Botulinum toxin for MDD is under investigational use only and not available for commercial distribution.

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SOURCE Healis Therapeutics

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the recent acquisition by Healis Therapeutics from AbbVie?

Healis Therapeutics has acquired the exclusive license to a key botulinum toxin patent from AbbVie, enabling its development for Major Depressive Disorder.

How does this acquisition impact AbbVie and its stock?

The transfer of the patent to Healis may not have a direct impact on AbbVie’s stock as it involves a license transfer rather than a financial transaction.

What are the clinical results for botulinum toxin in treating Major Depressive Disorder?

Botulinum toxin has successfully passed through eight Phase II clinical trials for Major Depressive Disorder.

Is botulinum toxin currently available for treating Major Depressive Disorder?

As of February 2022, botulinum toxin is not FDA approved and is available only for investigational use.