Cerevel Therapeutics

What Cerevel Therapeutics does

Cerevel Therapeutics was a clinical-stage biopharmaceutical company that developed drug candidates for neurological and neuropsychiatric disorders, with a pipeline targeting central nervous system (CNS) conditions including epilepsy and Parkinson's disease. The company was formed in 2018 and spun off from Pfizer in 2020 with backing from a syndicate of life-sciences investors led by Perceptive Advisors, and it operated from Boston, Massachusetts. Cerevel's proprietary technology centered on receptor-subtype pharmacology for CNS indications, with several drug candidates in various stages of clinical development at the time of acquisition.

As a development-stage biotech, Cerevel generated no product revenue. Its business model was R&D-driven, funded by approximately $1.67 billion in cumulative capital raised across multiple equity and convertible-note financings between 2018 and 2023, including a $350 million public offering in July 2021 and a combined $554 million convertible-note and public-stock offering in August 2022. The company had no commercial distribution or marketing channels; its value was entirely in the pipeline assets. In December 2023, AbbVie announced its acquisition of Cerevel for approximately $8.7 billion, with the deal completed in August 2024 at $45.00 per share following FTC review. Post-acquisition, Cerevel operates as a wholly-owned subsidiary of AbbVie (NYSE: ABBV), with its neuroscience pipeline integrated into AbbVie's portfolio and expected to be earnings accretive starting in 2030.

Name

Cerevel Therapeutics

Legal name

Cerevel Therapeutics

Website

https://cerevel.com

Company type

Private

Founded year

2020

Operating status

Acquired

Headcount range

5,001–10,000 employees

Short description

Cerevel Therapeutics was a clinical-stage biopharmaceutical company developing drug candidates for neurological and neuropsychiatric disorders, targeting CNS conditions such as epilepsy and Parkinson's disease. Acquired by AbbVie for approximately $8.7 billion in August 2024.

Ownership category

akta.pro rank

Product category

Neuroscience Therapeutics

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF)

akta.pro secondary industry

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)

Keywords

• Neuroscience drug development
• CNS therapeutics
• Neurological disorder treatments
• Psychiatric drug development
• Biopharmaceutical R&D

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations

Revenue model

1. Product Revenue (post-acquisition): As a pre-revenue biotech company prior to acquisition, Cerevel did not generate product revenue. The company was focused on R&D for neuroscience therapies. Now integrated into AbbVie's portfolio, future revenue will come from commercialization of neuroscience drug candidates.

Core offering

Cerevel Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies for neuroscience diseases, with a primary focus on central nervous system (CNS) disorders. Its pipeline targets Parkinson's disease, epilepsy, schizophrenia, and dementia-related apathy through small-molecule drug candidates including tavapadon, emraclidine, and CVL-871. The company was acquired by AbbVie in August 2024 for approximately $8.7 billion to bolster AbbVie's neuroscience pipeline.

Product overview

Cerevel Therapeutics was a biotech company developing neuroscience therapies targeting neurological and psychiatric disorders. The company's product portfolio centered on a pipeline of drug candidates for CNS conditions including epilepsy and Parkinson's disease. Following AbbVie's acquisition in 2024, Cerevel's neuroscience pipeline was integrated into AbbVie's broader pharmaceutical portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Tavapadon (PF-06649751)

Quantifiable outcome

• Acquisition by AbbVie for $8.7 billion in 2024 validates the value of Cerevel's neuroscience pipeline

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• AbbViecoreStrategic or Co-development Partner · 1 August 2024AbbVie completed its acquisition of Cerevel Therapeutics in August 2024 for $45.00 per share (approximately $8.7 billion total). The acquisition integrates Cerevel's pipeline of neurological and psychiatric treatments into AbbVie's portfolio. The deal was earnings accretive starting in 2030 and includes several promising drug candidates in various stages of clinical development.

Scale indicators5 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• ACADIA Pharmaceuticals: ACADIA Pharmaceuticals is a CNS-specialty biopharma commercializing therapies for Parkinson's disease psychosis and other neurological disorders, overlapping with Cerevel's CNS indication targets.
• Intra-Cellular Therapies: Intra-Cellular Therapies develops CNS therapeutics for neuropsychiatric and neurological conditions; it was acquired by Johnson & Johnson for $14.6B in 2024, representing a near-identical CNS biotech acquisition exit to Cerevel's.
• BioXcel Therapeutics: BioXcel Therapeutics is a clinical-stage biopharma using AI to identify neuroscience and immuno-oncology drug candidates, sharing Cerevel's CNS therapeutic focus and development-stage profile.
• Axsome Therapeutics: Axsome Therapeutics is a CNS-focused biopharma commercializing therapies for depression and migraine, sharing Cerevel's CNS focus, receptor-based pharmacology approach, and mid-cap development profile.
• Sage Therapeutics: Sage Therapeutics is a CNS-focused biopharmaceutical company developing therapies for neurological and psychiatric disorders, including epilepsy and depression — directly comparable to Cerevel's CNS pipeline focus and patient population.
• Karuna Therapeutics: Karuna Therapeutics developed CNS therapies for schizophrenia and psychosis; it was acquired by Bristol-Myers Squibb for $14B in 2024, making it a near-perfect peer on both CNS focus and the recent wave of large-pharma CNS acquisitions.

Broad incumbents

• AbbVie: AbbVie acquired Cerevel for $8.7B in 2024 and now operates it as a wholly-owned subsidiary; AbbVie's broader immunology-led portfolio and global commercial infrastructure define the context for Cerevel's pipeline within the parent.
• Pfizer: Pfizer is Cerevel's former parent company and spun off Cerevel's neuroscience assets in 2020; Pfizer continues to compete broadly in CNS/neurology as a major pharma incumbent with vastly greater scale and resources.
• Bristol-Myers Squibb: Bristol-Myers Squibb acquired Karuna Therapeutics for $14B in 2024, making it a major strategic acquirer of CNS-focused biotechs directly comparable to AbbVie's Cerevel acquisition in thesis and scale.
• Eli Lilly: Eli Lilly is a major pharmaceutical incumbent with significant CNS and neurodegenerative disease programs (including Alzheimer's), competing in overlapping indication space with Cerevel's CNS pipeline post-AbbVie integration.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/CerevelTx
• Facebookfacebook.com/cereveltherapeutics
• LinkedInlinkedin.com/company/cerevel

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds6 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cerevel Therapeutics