Hit by set­backs, Lund­beck­'s Deb­o­rah Dun­sire inks a $400M cannabi­noid buy­out, adding a dis­cov­ery site

New Lund­beck CEO Deb­o­rah Dun­sire is turn­ing to M&A to build the pipeline.

Ear­ly Mon­day the Dan­ish biotech re­port­ed that Dun­sire had agreed to pay $250 mil­lion cash to snag San Diego-based Abide Ther­a­peu­tics, where re­searchers have been work­ing on a cannabi­noid plat­form for new drugs to treat brain dis­eases. 

In ad­di­tion to the cash, Lund­beck is re­serv­ing up to $150 mil­lion for mile­stones. And they’ll be keep­ing the San Diego base, des­ig­nat­ing it as a dis­cov­ery cen­ter for Lund­beck.

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