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2022-03-02| M&A

Abbvie Acquires Neuroscience Company Syndesi for $1 Billion

by Joy Lin
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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. 

Related Article: The Next SuperStar Drug? AbbVie Places its Hope on Skyrizi and Rinvoq

 

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.    

Related Article: GeneOnline’s Pick: Notable Novel FDA Approved Drugs in 2021

 

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. 

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