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Lundbeck scoops up Abide for up to $400M

May 06, 2019 2:06 PM ETH. Lundbeck A/S (HLUKF) StockHLUKF, HLUYYBy: Vandana Singh, SA News Editor
  • Denmark’s H. Lundbeck (OTC:HLUKF) snaps up Abide Therapeutics and adds differentiated chemo-proteomic discovery platform and a US-based research hub.
  • Abide's lead program, ABX-1431, is a selective inhibitor of serine hydrolase monoacylglycerol lipase/MGLL and is designed to increase the power of endocannabinoid signaling to restore homeostatic balance in the central nervous system.
  • Lundbeck will pay $250M upfront and up to $150M in milestones
  • The transaction is expected to close by Q2 2019.

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