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Mergers & Acquisitions

Lundbeck to acquire Abide Therapeutics for $250 million

by Ryan Cross
May 11, 2019 | A version of this story appeared in Volume 97, Issue 19
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The Danish drug company Lundbeck is buying the San Diego biotech firm Abide Therapeutics for $250 million. Abide was cofounded by Scripps Research chemists Dale Boger and Benjamin Cravatt and others to use chemoproteomic techniques to develop drugs for neurological diseases. The company is currently testing inhibitors of an enzyme called monoacylglycerol lipase in Tourette’s syndrome and pain. Abide’s owners could earn up to $150 million more in potential development and sales milestones.

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