Abide and Celgene Enter Worldwide License Agreement for ABX-1772

Abide Therapeutics announced that it has granted Celgene an exclusive worldwide license for ABX-1772, a preclinical drug candidate discovered by Abide. In connection with the license, Abide received an undisclosed payment and will be entitled to certain milestone payments and royalties on commercial sales.

Abide also announced that it has regained ex-US rights to ABX-1431 from Celgene, and the original collaboration agreement between the two companies and Celgene’s option to acquire Abide have been terminated.

“We appreciate the support and collaborative spirit that has underscored our collaboration with Celgene, which has enabled us to optimize our innovative chemoproteomics platform to generate a strong pipeline.” said Alan Ezekowitz, MBChB, DPhil, CEO and President of Abide Therapeutics.