Lundbeck Boosts US R&D Capability With $400m Abide Theraputics Bid

Hit by a number of high-profile clinical failures in recent months, the Danish CNS-focused pharma Lundbeck Inc. plans to spend some of its cash pile on acquiring San Diego, CA-based biotech Abide Therapeutics Inc. The acquisition gives Lundbeck a differentiated chemical proteomic drug discovery platform focused on selective serine hydrolase inhibitors, a Phase II compound and preclinical assets, as well as a US-based research hub. Lundbeck’s offer of $250m upfront and the promise of an additional $150m should milestones be achieved has been accepted unanimously by Abide’s board.

Abide Therapeutics was founded in 2011 and is underpinned by a drug discovery platform that delivers highly selective molecules that target serine hydrolases, one of the largest and most diverse enzyme classes in humans