Abide Therapeutics, Celgene deal

Celgene paid Abide $50 million up front in exchange for an exclusive option to acquire Abide for undisclosed terms. Celgene gained an undisclosed equity stake in Abide, and existing investor Cardinal Partners made a $10 million equity investment. Abide has exclusive rights from The Scripps Research Institute (La Jolla, Calif.) to a chemical proteomic technology to identify selective inhibitors against serine hydrolases. ...