Syndesi Therapeutics

Main article: Alzheimer's disease

Syndesi Therapeutics is developing drugs to treat consistent cognitive disorders in various neurological conditions.

History

2022: AbbVie bought Syndesi Therapeutics for $1 billion

On March 1, 2022, the American pharmaceutical giant AbbVie completed the acquisition of the Belgian biotechnology Syndesi Therapeutics. The deal will expand AbbVie 's neurological research portfolio with lead drug Syndesi to treat symptoms associated with Alzheimer's disease.

AbbVie will pay shareholders of Syndesi Therapeutics an advance payment of $130 million as part of the transaction, but may also make additional payments of up to $870 million if certain predetermined milestones are reached. Syndesi Therapeutics was supported by Irish venture capital firm Fountain Healthcare Partners, which, together with Novo Holdings, held a Series A funding round in 2018.

AbbVie bought a manufacturer of drugs for neuropsychiatric disorders for $1 billion

The acquisition aims to expand the biopharmaceutical AbbVie portfolio in neurology by giving it access to drug candidates from Syndesi Therapeutics. Such drugs include the molecule SDI-118, which can potentially be used as an agent for the treatment of cognitive impairment and other symptoms associated with disorders such as Alzheimer's disease. As of March 2022, SDI-118 is evaluated as a drug acting on nerve terminals to increase the effectiveness of synapses. Synaptic dysfunction is thought to underlie the cognitive impairment seen in numerous neuropsychiatric and neurodegenerative diseases.

{{quote 'I am very excited about completing this deal. It was a great pleasure to collaborate with our investors in exploring the potential of SDI-118 in early clinical research. Now, as part of AbbVie, the program has every opportunity to move to later stages of clinical development. Because there is a large unmet need for updated treatments that can improve cognitive function in patients with neurological diseases, Syndesi CEO Jonathan Savidge said. }}

AbbVie is known for producing a wide range of products, including the drug Humira, which is used to treat diseases such as rheumatoid arthritis and Crohn's disease. This acquisition followed the merger of AbbVie with Irish Allergan in 2020 as part of one of the largest mergers in the world since 2014, the value of which is estimated at about $63 billion.^[1]

Notes