AbbVie Expands Neuroscience Portfolio with Syndesi Purchase
US biopharma AbbVie is to take over Belgian biotech Syndesi Therapeutics, in a move that will expand its neuroscience portfolio. Under the agreed terms, AbbVie will pay Syndesi shareholders an upfront sum of $130 million, with potential additional payments of up to $870 million contingent on achieving certain milestones.
The deal gives AbbVie access to Syndesi’s portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118, which is currently in Phase 1b studies. Synaptic dysfunction is believed to underlie the cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders, such as Alzheimer's disease and major depressive disorders.
"We have been impressed with the vision of AbbVie's neuroscience R&D team, who share our view on the therapeutic potential of SDI-118 in a range of neurologic diseases," said Syndesi’s CEO Jonathan Savidge. “Now, as part of AbbVie, the program is well positioned to move into later stages of clinical development."
Syndesi was spun out of Belgian biopharma UCB in February 2018. It has an exclusive worldwide license from UCB to develop and commercialize the SV2A modulators.
Author: Elaine Burridge, Freelance Journalist
