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.