Abide Therapeutics

In 2011, a specialized biopharmaceutical company, Abide Therapeutics, was founded as a spin-off from Scripps Research. The founders, Scripps professors Benjamin Cravatt and Dale Boger, aimed to develop therapies by targeting a large and diverse class of enzymes known as serine hydrolases. These enzymes play a key role in regulating various physiological processes, from nervous system signaling to metabolism and inflammation. The company's core technology provided a way to identify and develop small-molecule inhibitors for this under-explored class of enzymes. Abide's journey gained momentum through strategic collaborations. In 2013, the company partnered with Merck to discover and develop therapies for type 2 diabetes. A year later, a significant collaboration with Celgene was announced to target inflammation and immunology, which included an equity investment and an exclusive option for Celgene to acquire Abide. This series of partnerships validated Abide's unique scientific platform and provided capital to advance its programs. The company's lead candidate, ABX-1431, was being explored for treating Tourette syndrome and neuropathic pain. The pivotal moment for Abide Therapeutics came in May 2019, when the Danish pharmaceutical company H. Lundbeck A/S announced its acquisition of the company. The deal was valued at up to $400 million, consisting of a $250 million upfront payment and $150 million in potential future milestones. For Lundbeck, the acquisition provided a novel drug discovery platform and a U.S.-based research hub, strengthening its pipeline for brain diseases. For Abide, the acquisition represented the culmination of its strategy, successfully translating its specialized science into a significant outcome.