Abide Therapeutics Enters Drug Development Deal With Merck & Co. Inc.Monday, May 6, 2013
La Jolla-based Abide Therapeutics Inc. has entered a drug development deal that could bring in up to $430 million with drug maker Merck & Co. Inc.
The company is developing three different drugs to treat type 2 diabetes and related metabolic diseases.
Merck also paid an undisclosed amount upfront. Abide will be eligible to receive royalties if the drugs go to market.
The privately held company was formed in 2011, and employs 10 in its La Jolla laboratories.
— SDBJ Staff Report