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Lundbeck acquire Abide Therapeutics in deal worth $400 million

Published on 07/05/19 at 10:19am

Danish firm Lundbeck has agreed to acquire San Diego-based biotech Abide Therapeutics as part of a deal worth $400 million.

Lundbeck has agreed a deal in which it will pay Abide $250 million upfront and as much as $150 million based on future development and sales milestones.

Under the terms of the deal Lundbeck will acquire Abide’s lead molecule ABX-1431, “a potent selective inhibitor of the serine hydrolase monoacylglycerol lipase (MGLL) that potentiates endocannabinoid signaling to restore homeostatic balance in the central nervous system.”

The molecule is being explored in clinical trials as a treatment for Tourette’s (Phase 2a) and neuropathic pain (Phase 1).

Dr Deborah Dunsire, President and CEO of Lundbeck commented: “The acquisition of Abide provides us with a differentiated chemo-proteomic platform to discover new classes of drugs for a broad spectrum of brain diseases starting with those that harness the therapeutic potential of the endocannabinoid system.

"Abide’s innovative R&D platform provides us with a unique opportunity to strengthen our pipeline now and well into the future, putting Lundbeck in position to deliver multiple new and transformative treatments for brain diseases.”

Alan Ezekowitz, CEO of Abide, added: “Developing first-in-class CNS mechanisms requires in depth expertise across the spectrum of drug discovery and development. Lundbeck’s commitment to brain health convinced us that together this was the best way to attain Abide’s goal to develop novel therapeutics that make a fundamental difference in the lives of patients with a range of neurological and mood disorders.

"This together with the support for the La Jolla discovery site means that we can continue to leverage the insights of Ben Cravatt’s laboratory at Scripps Research and maintain our outstanding discovery team”

Louis Goss

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