AbbVie Buys Syndesi Therapeutics for Up to $1 Billion
March 01 2022 - 8:58AM
Dow Jones News
By Colin Kellaher
AbbVie Inc. on Tuesday said it acquired Belgian clinical-stage
biotechnology company Syndesi Therapeutics SA for up to $1 billion
in a deal that expands its neuroscience portfolio.
AbbVie said it is making an upfront payment of $130 million, and
Syndesi's shareholders could receive additional contingent payments
of up to $870 million based on the achievement of certain
milestones.
AbbVie said the deal adds Syndesi's portfolio of novel
modulators of the synaptic vesicle protein 2A, including its lead
molecule SDI-118. The North Chicago, Ill., biopharmaceutical
company said the mechanism is currently being evaluated for the
potential treatment of cognitive impairment and other symptoms
associated with a range of neuropsychiatric and neurodegenerative
disorders, such as Alzheimer's disease and major depressive
disorder.
Novo Holdings A/S, a Danish life-sciences investor that controls
healthcare giant Novo Nordisk A/S, and Belgian biopharmaceutical
company UCB S.A. formed Syndesi in 2018 with a syndicate of Belgian
and international investors to further develop novel SV2A
modulators originally discovered by UCB.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 01, 2022 08:43 ET (13:43 GMT)
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