OR WAIT null SECS
AbbVie has acquired Syndesi Therapeutics, expanding AbbVie’s neuroscience portfolio.
AbbVie announced on March 1, 2022 that it has completed the acquisition of Syndesi Therapeutics, which will help expand and strengthen AbbVie’s neuroscience portfolio. This acquisition will allow AbbVie to access Syndesi’s portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), as well as its lead molecule, SDI-118.
SDI-118 is a small molecule that is being evaluated to target nerve terminals and enhance synaptic efficiency. The cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders is believed to be associated with synaptic dysfunction. The molecule is being evaluated as a possible treatment for these types of disorders, such as Alzheimer’s disease and major depressive disorder.
AbbVie will pay Syndesi shareholders an upfront payment of $130 million, with the potential of additional contingent payments of up to $870 million based on predetermined achievements of milestones.
"There is a major unmet need for new therapies that can help improve cognitive function in patients suffering from difficult-to-treat neurologic diseases," said Tom Hudson, M.D., senior vice president, R&D, and CEO of AbbVie, in a press release. "With AbbVie's acquisition of Syndesi, we aim to advance the research of a novel, first-in-class asset for the potential treatment of cognitive impairment associated with neuropsychiatric and neurodegenerative disorders."