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ARTICLE | Company News

Celgene opts in for ex-U.S. rights to Abide compound

September 29, 2016 7:00 AM UTC

Celgene Corp. (NASDAQ:CELG) exercised an option giving it ex-U.S. rights to ABX-1431 from Abide Therapeutics Inc. (San Diego, Calif.). The small molecule inhibitor of monoacylglycerol lipase ( MAGL) is in Phase I testing for neurological diseases.

The option exercise triggers a $20 million fee to Abide from Celgene, which will be responsible for development costs for all indications in Phase II and beyond. Abide, which retains U.S. rights, plans to conduct additional Phase Ib studies in neuromyelitis optica and movement disorders. ...