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Celgene option deal buys Abide time to validate platform, expand target space
Abiding its time
Monday, March 10, 2014
Therapeutics Inc.'s option deal with Celgene
Corp. gives it several years to validate its serine hydrolase platform.
Should Celgene opt to license ex-U.S. rights to Abide's lead inflammation
programs rather than buy the company - or even if Celgene does neither - Abide
will come away with a more mature platform and a head start on a handful of
Alan Ezekowitz, president and CEO of Abide, said the deal with
Celgene and one from last year with Merck
& Co. Inc. allow the biotech to focus on optimizing and validating
its technology while avoiding the distraction of raising more money.
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