AbbVie Acquires Syndesi Therapeutics for ~$1B
Shots:
- Syndesi shareholders to receive $130M up front & is also eligible to receive additional contingent fees of ~$870M upon the achievement of predetermined milestones
- The acquisition will expand AbbVie's neuroscience portfolio & give access to Syndesi's portfolio of novel modulators of SV2A including SDI-118 which is currently in P-Ib studies & is used to treat cognitive impairment associated with neuropsychiatric and neurodegenerative disorders including AD and major depressive disorder
- SDI-118 has been discovered by UCB & is being evaluated to target nerve terminals to enhance synaptic efficiency
Ref: AbbVie | Image: AbbVie
Click here to read the full press release
Tags
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.