AbbVie has agreed to acquire Gilgamesh Pharmaceuticals' investigational psychedelic drug, bretisilocin, targeting major depression for up to $1.2 billion. This deal places AbbVie prominently in the emerging psychedelic therapeutic space following prior acquisitions such as Cerevel Therapeutics. Gilgamesh will spin off remaining assets into a new entity, focusing its workforce on the psychedelic candidate. The acquisition signals a growing pharma interest in novel psychiatric treatments despite recent challenges in schizophrenia drug trials.