Abide Therapeutics in up to $430 million deal with Merck & Co for type 2 diabetes and metabolic disease

3 May 2013

Privately-held biopharma firm Abide Therapeutics has entered into a collaboration agreement with US drugs giant Merck & Co (NYSE: MRK) to discover, develop and commercialize small-molecule therapies directed against three novel targets to treat metabolic diseases with a focus on type 2 diabetes.

Under the terms of the deal, Abide Therapeutics is eligible to receive an undisclosed upfront payment, research funding and potential milestone payments of up to $430 million for three products. Further details of the financial terms were not disclosed.

"This collaboration leverages Abide's unique and innovative therapeutic engine," said Alan Ezekowitz, president and chief executive of Abide Therapeutics, adding: "We are eager to validate unique targets that we hope will lead to the development of novel therapeutics that will benefit patients with diabetes and metabolic diseases."

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