Lundbeck’s Acquisition Of Abide Therapeutics

Baker McKenzie advised global pharmaceutical company Lundbeck on its acquisition of San Diego-based biopharmaceutical company Abide Therapeutics, Inc. for USD 250 million upfront payment with additional development and sales milestones payments up to USD 150 million.

The acquisition provides Lundbeck, which has focus on brain disease treatments, with a world-class discovery platform concentrated on harnessing the therapeutic potential of one of the largest and most diverse enzyme classes. Abide’s lead product, ABX 1431, is in clinical development for treating patients with Tourette Syndrome.

Credit Suisse and BofA Merrill Lynch acted as financial advisors and Goodwin Procter LLP served as legal counsel to Abide.

The Baker McKenzie transactions team includes Randall Sunberg (Picture), Denis Segota, Oren Livne, Andrew Haupt and Jason Kramer.

Involved fees earner: Andrew Haupt – Baker McKenzie; Jason Kramer – Baker McKenzie; Oren Livne – Baker McKenzie; Denis Segota – Baker McKenzie; Randall Sunberg – Baker McKenzie;

Law Firms: Baker McKenzie;

Clients: Lundbeck;

Author: Ambrogio Visconti