Abide Therapeutics Announces Collaboration With Merck to Develop Novel Therapies for Type 2 Diabetes and Metabolic Diseases

    Abide Therapeutics Announces Collaboration With Merck to Develop Novel
             Therapies for Type 2 Diabetes and Metabolic Diseases

PR Newswire

SAN DIEGO, May 02, 2013

SAN DIEGO, May 02, 2013 /PRNewswire/ --Abide Therapeutics, a
biopharmaceutical company pioneering innovative approaches to selectively
target a group of enzymes known as serine hydrolases, today announced that it
has entered into a collaboration agreement with Merck, known as MSD outside
the U.S. and Canada, to discover, develop and commercialize small-molecule
therapies directed against three novel targets to treat metabolic diseases
with a focus on type 2 diabetes.

(Logo: http://photos.prnewswire.com/prnh/20130502/LA06084LOGO)

"This collaboration leverages Abide's unique and innovative therapeutic
engine," said Alan Ezekowitz, MBChB, D.Phil., President and CEO of Abide
Therapeutics. "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."

Under the terms of the agreement, Abide Therapeutics is eligible to receive an
upfront payment, research funding, and potential milestone payments for up to
$430 million for three products. Further details of the financial terms were
not disclosed. Merck will have worldwide commercialization rights to any
products that may be developed as a result of the collaboration. Abide
Therapeutics is entitled to receive royalty payments on global sales from any
such products.

"Diabetes and related disorders continue to represent a significant global,
unmet medical need," said Nancy Thornberry, Senior Vice President and
Franchise Head, Diabetes and Metabolism, Merck Research Laboratories. "We look
forward to working with Abide on the discovery and development of important
new medicines."

About Serine Hydrolases

The large family of serine hydrolases are validated but largely under explored
as drug targets. These enzymes play a key regulatory role in human
physiological processes, such as regulating CNS signaling, digestion,
metabolism, inflammation, blood clotting, and life cycle of viruses and
pathogens. Thus, the ability to target serine hydrolases has broad therapeutic
applications. The proprietary Abide technology platform provides a unique
highly selective small molecule collection that specifically targets the
common catalytic site of serine hydrolases. The technology provides a rapid
and effective method for target identification and validation. 

About Abide Therapeutics

Abide Therapeutics is focused on developing innovative medicines that target
serine hydrolases, one of the largest enzyme classes in nature with validated
but mostly untapped therapeutic potential. Serine hydrolases play important
regulatory roles in human physiology and disease. Abide has created a
proprietary platform, based on technology developed at The Scripps Research
Institute by Professors Ben Cravatt and Dale Boger, that specifically targets
serine hydrolases with selective small molecules. The ability to target and
modulate serine hydrolases has potential to develop new medicines in many
therapeutic areas. Abide is located in San Diego. To learn more, visit
www.abidetx.com.

SOURCE Abide Therapeutics

Website: http://www.abidetx.com
Contact: Jessica Yingling, Ph.D., Little Dog Communications,
Jessica@litldog.com, 858.344.8091
 
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