USA - AbbVie has expanded its neuropsychiatric and neurodegenerative portfolio with the US$1 billion acquisition of Belgium-based Syndesi Therapeutics.AbbVie will make an upfront payment of US$130 million to Syndesi shareholders as part of the deal, but could make additional payments of up to US . SV2A plays a central role in synaptic transmission, the communication between neurons in the brain. AbbVie is a global biopharmaceutical company with focus and capabilities to address some of the world's greatest health challenges. The North Chicago-based pharmaceutical giant (NYSE: ABBV . Engage Lawyers that think like you, work transparently, responsively and at your pace. Four years after spinning out from Belgiums UCB, Syndesi Therapeutics and its SV2A modulator programme has been bought by AbbVie for $130 million upfront. The company said that the data complemented the PET target engagement data that had previously been seen. 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. Powered by Madgex Job Board Software, previously had an Alzheimers partnership. AbbVie has made 10 investments. It has been a pleasure to partner with our investors to investigate the potential of SDI-118 in early clinical studies. March 2, 2022 Auto Bot AbbVie, alzheimer's disease, BioPharma, biopharma nl, Clinical Trials, deals, neuroscience, North Chicago, Pharma, UCB 0 | AbbVie Inc. acquired Syndesi Therapeutics SA from various sellers for $1 billion In February 2022. A small molecule, SDI-118, is currently in Phase Ib studies. For AbbVie, Syndesis portfolio bolsters a neuroscience arm headed by drugs like Botox for muscle spasticity, Qulipta (atogepant) for migraine prevention and recently-filed antidepressant Vraylar (cariprazine), and backed up by half a dozen other clinical-stage candidates for stroke, spinal cord injury, Alzheimers and Parkinsons disease. NORTH CHICAGO, Ill., March 1, 2022 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced it has completed the acquisition of Syndesi Therapeutics SA, which will help . The expansion will add a new facility, as well as technology and upgrades that are expected to make the Carrigtwohill location more environmentally friendly. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Use Slintel to connect with top decision-makers at Syndesi Therapeutics. In its announcement, AbbVie said that synaptic dysfunction is believed to be an underlying issue in cognitive impairment that is associated with multiple disorders. AbbVie Bolsters Neuro Platform with $1B Syndesi Buy Summary : AbbVie has bolstered its neuropsychiatric and neurodegenerative portfolio with the acquisition of Belgium-based Syndesi Therapeutics . Today, our passionate AbbVie team has approximately ~50,000 employees working together to help patients . Don't miss your daily pharmaphorum news. SDI-118 and other SV2A candidates in development at Syndesi lack anti-epileptic properties but have shown promising pro-cognitive effects in preclinical studies, according to Syndesi. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Should You Swap Your Beer for a White Claw? AbbVie discovers, develops, and commercializes advanced therapies that have an impact on people's lives. This investment - Series A - Kojin Therapeutics - was valued at $30M. Tom Hudson, AbbVies head of R&D and chief scientific officer, noted that there is a major unmet need for new therapeutics and treatments that can improve cognitive function in patients with hard-to-treat neurologic diseases. Please disable your ad-blocker and refresh. Please. Leverage a tool that grows your practice and increases your income. 0. I am delighted with the closing of this deal. https://hubs.li/Q0157xK50 AbbVie. Ltd- Walk-In Interview for FR&D (Injectable)/ AR&D (Formulations) On 5th Nov 2022, REGENXBIO Presents Interim P-II (ALTITUDE) Trial Results of RGX-314 for Diabetic Retinopathy Using Suprachoroidal Delivery at 55th Annual Retina Society Meeting, Ascletis files IND in US for monkeypox treatment, McKesson opens largest distribution facility in its network, Eli Lilly invests $92.5m to create manufacturing scholarship with Purdue University, Zombie cells, Shkreli and cats new research in toxoplasmosis and how the three are connected, Acumen cruises into the fast lane with novel Alzheimers treatment. SDI-118 and other SV2A candidates in development at Syndesi lack anti-epileptic properties but have shown promising pro-cognitive effects in preclinical studies, according to Syndesi. AbbVie (NYSE: ABBV) has acquired of Syndesi Therapeutics, giving the former access to a portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including lead molecule SDI-118. Through the acquisition of Syndesi, AbbVie hopes to advance the research of the first-in-class SDI-118 for the treatment of cognitive impairment associated with neuropsychiatric and neurodegenerative disorders, Hudson said in a statement. AbbVie has bolstered its neuropsychiatric and neurodegenerative portfolio with the acquisition of Belgium-based Syndesi Therapeutics in a deal valued at up to $1 billion. 06/03/16. This acquisition gives AbbVie access to Syndesi's portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118. pharmaphorum media limited. Our name represents a proud connection to that legacy. Improved regulation of SV2A could play a role in approaching treatment of Alzheimers disease, major depressive disorder and other disorders with cognitive impairment. The total value of the deal could rise to $1 billion, dependent on whether Syndesis SV2A drugs headed by early-stage clinical candidate SDI-118 progress in development and reach the market. AbbVie Bolsters Neuro Platform with $1B Syndesi Buy. Last fall, the two companies nominated two deubiquitinating enzyme (DUB) targets to advance as potential therapies for Alzheimers and Parkinsons. With an upfront payment of $130 million, AbbVie gains Syndesi's portfolio of novel modulators of the synaptic vesicle . Add Files. With an upfront payment of $130 million, AbbVie gains Syndesi's portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118. The lead drug is currently in a phase 1b study and is being developed for cognitive impairment and other symptoms associated with a range of neuropsychiatric and neurodegenerative disorders, such as Alzheimers and major depressive disorder. Tue Mar 1 2022 - 13:00. An example of data being processed may be a unique identifier stored in a cookie. Mavupharma acquired by AbbVie . Under terms of the deal, AbbVie forked over $130 million. Backed by Novo Holdings, Syndesi launched in 2017 to develop novel SV2A modulators. The total value of the deal could rise . Syndesi is developing treatments for cognitive . Every story from every site is brought to you automatically and continuously 24/7, within around 10 minutes of . Rather than follow that research up in-house, UCB instead opted to spin the programmes off into Syndesi in 2018 with $21 million in funding from itself and other investors including the venture capital arms of Novo Nordisk and Johnson & Johnson. In March 2021 it agreed to buy Mitokinin and its PINK1 clinical programme for the potential treatment of Parkinsons disease for an undisclosed amount. AbbVie Inc (NYSE: ABBV) has landed an option to buy Mitokinin upon completing IND-enabling studies on the latter's lead PINK1 compound for Parkinson's . A small molecule, SDI-118, is currently in Phase Ib studies. They are also entitled to get further contingent payments of up to $870m on meeting specific pre-set milestones. Save Search . AbbVie's stock is up 36.3% over the past year, while the broader S&P 500 has gained 14.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. The two companies initially hooked up in 2018 in a tau and alpha-synuclein vectorized antibody collaboration with a goal to develop vectorized antibodies against the tau protein. Mar 1, 2022 . Syndesis approach is to modulate the activity of SV2A in other ways, in order to encourage neurotransmission between nerve synapses, in the hope of treating diseases like Alzheimers. The remaining $870 million in the back-end heavy deal will be paid to Syndesi shareholders based on the achievement of certain established milestones. In March 2021 it agreed to buy Mitokinin and its PINK1 clinical programme for the potential treatment of Parkinsons disease for an undisclosed amount. Shares of AbbVie ABBV, +1.27% were down 0.6% in premarket trading on Tuesday after the company completed a $1 billion acquisition of Syndesi Therapeutics SA. AbbVie . What Is Hard Kombucha and Is It Healthier Than Other Alcoholic Beverages? Manage Settings All rights reserved. The modulators are under investigation for. Syndesi is focused on developing therapeutics that modulate synaptic function to relieve the symptoms of cognitive impairment . 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SV2A is an emerging target in neurological diseases, a poorly understood transmembrane glycoprotein that is thought to play a role in regulating the release of neurotransmitter molecules from neurons. 14.7 MB. Cleary Gottlieb represented AbbVie Inc. (AbbVie) in its successful acquisition of Syndesi Therapeutics SA (Syndesi), for a total deal value of $1 billion, consisting of $130 million payment and $870 million earn-out based on the achievement of certain milestones. 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AbbVie ABBV announced that the phase III maintenance study FORTIFY evaluating its psoriasis drug, Skyrizi (risankizumab) as maintenance treatment in patients with moderate-to- severe Crohn's disease met its co-primary endpoints of endoscopic response and clinical remission.. The path toward transformational therapies. Under the terms of the agreement, AbbVie will pay Syndesi shareholders a $130 million upfront. SV2A plays a central role in synaptic transmission, the communication between neurons in the brain. AbbVie (NYSE: ABBV) today announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. Copenhagen, DK, March 1, 2022 (PRNewswire) -- Novo Holdings, a leading international life sciences investor, today announces that its portfolio company Syndesi Therapeutics ('Syndesi') has been acquired by AbbVie (NYSE: ABBV) for up to US$1 billion in total deal value with US$ 130 million upfront. 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