Merck, Abide Announce $430M Diabetes Collaboration

Merck & Co. entered into an up to $430 million collaboration with Abide Therapeutics to discover, develop, and commercialize small molecule therapies designed to treat type 2 diabetes and other metabolic diseases by targeting serine hydrolases.Abide said the $430 million will consist of an up-front payment, research funding, and potential milestone payments for three products. Merck will have worldwide commercialization rights to any products that may be developed through the collaboration, with Abide entitled to receive royalty payments on global sales of any such products. Read the full story