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AbbVie acquires Syndesi Therapeutics

Published on 07/03/22 at 10:39am

Syndesi Therapeutics has been acquired by AbbVie in a deal worth a potential $1 billion.

Syndesi was created in 2018 as the result of a close collaboration between between Novo Seeds, the company creation arm of Novo Holdings, and UCB Pharma. Syndesi has since built a portfolio of novel synaptic vesicle protein 2A (SV2A) modulators to treat synaptic transmission deficits associated with cognitive dysfunction across a range of neuropsychiatric and neurodegenerative disorders such as Alzheimer’s Disease, Parkinson’s Disease, schizophrenia, and depression.

The company’s lead molecule SDI-118 is a small molecule currently in Phase Ib studies. It is being evaluated to target nerve terminals, to enhance synaptic efficiency. Synaptic dysfunction is believed to underlie the cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders.

As part of the deal, AbbVie will pay Syndesi shareholders $130 million in an upfront payment with an additional $870 million available depending on if certain milestones are met.

"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, senior vice president, R&D, CSO, AbbVie. "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."

"We have been impressed with the vision of AbbVie's neuroscience R&D team, who share our view on the therapeutic potential of SDI-118 in a range of neurologic diseases," remarked Jonathan Savidge, CEO, Syndesi Therapeutics. "I am delighted with the closing of this deal. It has been a pleasure to partner with our investors to investigate the potential of SDI-118 in early clinical studies. Now, as part of AbbVie, the program is well positioned to move into later stages of clinical development."

Lina Adams

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