Abbvie Acquires Neuroscience Company Syndesi for $1 Billion

Abbvie is betting $1 billion to bring Syndesi Therapeutics’ Alzheimer’s disease and depression treatments into its neuroscience portfolio. 

Under the deal, Abbvie will pay $130 million upfront to Syndesi. Syndesi shareholders may receive a further $870 million if milestones are achieved. 

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Syndesi, UCB Spinout and SV2A Player

Syndesi was created in late 2017 by UCB Biopharma to further develop SV2A modulators originally discovered by UCB. 

Syndesi’s Series A financing went on to raise $19 million, and was co-led by Novo Holdings together with Fountain Healthcare Partners, with participation from five other investors including Johnson and Johnson’s incubator company and UCB’s venture arm. 

Its lead small molecule, SDI-118, was one of the modulators discovered by UCB before being out-licensed to Syndesi in 2018, coinciding with Syndesi’s spinout from UCB. 

SDI-118 is currently undergoing Phase 1b studies. The drug is designed to treat neurodegenerative disorders by improving the efficiency of signal transmissions between nerve terminals. 

SDI-118 targets the synaptic vesicle protein SV2A, which regulates communication between the nerve synapses. SV2A has been a popular target for anti-epileptic drugs (anticonvulsants), notably the UCB-developed Keppra. However, Syndesi is developing SDI-118 to address synaptic dysfunction and improve cognition instead of treating epilepsy.

Besides a Phase 1b on patients in remission from depression, Syndesi is enrolling elderly adults with cognitive decline in another early-phase study.    

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Abbvie’s Neuroscience Pipeline

Prior to the deal, Abbvie’s pipeline consisted of seven candidates.

This includes two Alzheimer’s disease candidates being developed with Alector, one of which has entered Phase 2 trials. 

Abbvie’s lead candidate for major depressive disorder is Vraylar, a dopanine D2 partial agonist, 5-HT1A partial agonist, and 5-HT2A antagonist.

The Syndesi buyout is expected to complement Abbvie’s repertoire of drugs that exhibit different mechanisms to target the same indications. 

Author

Joy Lin

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