AbbVie Acquires Syndesi Therapeutics in $1-Bn DealBy
To enhance its neuroscience portfolio, AbbVie has acquired Syndesi Therapeutics, a Belgium-based bio/pharmaceutical company, in a $1-billion deal ($130 million upfront and up to $870 million in milestone payments).
Syndesi is focused on developing therapeutics that modulate synaptic function to relieve the symptoms of cognitive impairment. Syndesi’s molecules act pre-synaptically to enhance synaptic efficiency by positively modulating the function of synaptic vesicle protein 2A (SV2A), which plays a role in regulating neurotransmission.
This acquisition gives AbbVie access to Syndesi’s portfolio of modulators of SV2A, including Syndesi’s lead molecule, SDI-118, a small molecule currently in Phase Ib studies, which is being evaluated to target nerve terminals to enhance synaptic efficiency. Synaptic dysfunction is believed to underlie the cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders.
Under the agreement, AbbVie will pay Syndesi shareholders a $130-million upfront payment with the potential for Syndesi shareholders to receive additional contingent payments of up to $870 million based on the achievement of certain predetermined milestones.