Step two: Celgene grabs a $20M option, plots MS PhII for Abide’s cannabinoid drug
San Diego-based Abide Therapeutics is building on about 5,000 years of human history regarding the medicinal aspects of cannabis. The biotech believes that its drug, ABX-1431, can follow that pathway to a new approach on neurological diseases like multiple sclerosis. And now Celgene is buying into that strategy, handing over $20 million to pick up an option on the drug and embark on a mid-stage development program.
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