Georgia (+7880) - Expands AbbVie's neuroscience portfolio, adding first-in-class modulators of the synaptic vesicle protein 2A, including lead molecule SDI-118 currently in Phase 1b studies, - Novel mechanism will be evaluated for the potential to mitigate synaptic dysfunction associated with cognitive deficits across a range of neuropsychiatric and neurodegenerative disorders. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. 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St. Helena (+290) Syndesi's unique molecules act pre-synaptically to enhance synaptic efficiency by positively modulating the function of synaptic vesicle protein 2A (SV2A), which plays a central role in regulating neurotransmission. Cyprus North (+90392) Goodwin Procter LLP acted as lead legal counsel, along with Deloitte Legal, Belgium, and Lazard acted as the exclusive financial adviser to Syndesi. Abbvie announced it would acquire Belgian-based Syndesi Therapeutics for up to $1 billion and its portfolio of novel modulators of the synaptic vesicle protein 2A and lead compound SDI-118. Brunei (+673) Under the terms of the agreement, AbbVie will pay Syndesi shareholders a $130 million upfront payment with the potential for Syndesi shareholders to receive additional contingent payments of up to $870 million based on the achievement of certain predetermined milestones. The lead molecule, SDI-118, is a small molecule currently in Phase 1b studies, which is being evaluated to target nerve terminals to enhance synaptic efficiency. The collaborative effort by Novo Seeds and UCB Pharma - alongside a syndicate of Belgian and international investors - enabled Chief Executive Officer Jonathan Savidge and his team to focus on progressing the first-in-class synaptic vesicle protein 2A (SV2A) programme into clinical Phase 1b studies. Turkmenistan (+7) Now, as part of AbbVie, the program is well positioned to move into later stages of clinical development.. This acquisition gives AbbVie access to Syndesi's portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118. AbbVie is providing these links to you only as a convenience and the inclusion of any link does not imply endorsement of the linked site by AbbVie. Cuba (+53) Congo (+242) NORTH CHICAGO, Ill., March 1, 2022 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. NORTH CHICAGO, Ill., March 1, 2022 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. The deal will allow AbbVie to access Syndesi's research into the potential treatment of cognitive impairment and other symptoms associated with neurodegenerative and neuropsychiatric disorders, including major depressive disorder and Alzheimer's disease. Costa Rica (+506) Montserrat (+1664) Founded in December 2017 and based in Belgium, Syndesi is a clinical stage biotechnology company pioneering the development of novel therapeutics that modulate synaptic function to relieve the . Tuvalu (+688) Synaptic dysfunction is believed to underlie the cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders. Japan (+81) "There is a major unmet need for new therapies that can help improve cognitive function in patients suffering from difficult-to-treat neurologic diseases," saidTom Hudson, M.D., senior vice president, R&D, chief scientific officer, AbbVie. Barbados (+1246) Regulating synaptic transmission represents . I am delighted with the announcement of this deal. Such risks and uncertainties include, but are not limited to, failure to realize the expected benefits from AbbVie's acquisition of Allergan plc ("Allergan"), failure to promptly and effectively integrate Allergan's businesses, competition from other products, challenges to intellectual property, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry and the impact of public health outbreaks, epidemics or pandemics, such as COVID-19. Bangladesh (+880) Syndesi's unique molecules act pre-synaptically to enhance synaptic efficiency by positively modulating the function of synaptic vesicle protein 2A (SV2A), which plays a central role in regulating neurotransmission. The Internet site that you have requested may not be optimized to your screen size. COPENHAGEN, Denmark, March 1, 2022 /PRNewswire/ -- Novo Holdings, a leading international life sciences investor, today announces that its portfolio company Syndesi Therapeutics ('Syndesi') has been acquired by AbbVie (NYSE: ABBV) for up to US$1 billion in total deal value with US$ 130 million upfront. Serbia (+381) Shares of AbbVie ABBV, +0.40% were down 0.6% in premarket trading on Tuesday after the company completed a $1 billion acquisition of Syndesi Therapeutics SA. Now, as part of AbbVie, the program is well positioned to move into later stages of clinical development.". This acquisition gives AbbVie access to Syndesis portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118. Such risks and uncertainties include, but are not limited to, failure to realize the expected benefits from AbbVie's acquisition of Allergan plc ("Allergan"), failure to promptly and effectively integrate Allergan's businesses, competition from other products, challenges to intellectual property, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry and the impact of public health outbreaks, epidemics or pandemics, such as COVID-19. Mali (+223) The mechanism is currently being evaluated for the potential treatment of cognitive impairment and other symptoms associated with a range of neuropsychiatric and neurodegenerative disorders, such as Alzheimer's disease and major depressive disorder. Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Tonga (+676) United Arab Emirates (+971) Follow @abbvie on Twitter, Facebook, Instagram, YouTubeand LinkedIn. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. Zambia (+260) "I am delighted with the closing of this deal. Regulating synaptic transmission represents a . Palau (+680) Belize (+501) For more information about AbbVie, please visit us at www.abbvie.com. Novo Holdings. Under the terms of the agreement, AbbVie will pay Syndesi shareholders a $130 million upfront payment with the potential for Syndesi shareholders to receive additional contingent payments of up to $870 million based on the achievement of certain predetermined milestones. Under the terms of the agreement, AbbVie will pay Syndesi shareholders a $130 million upfront payment with the potential for Syndesi shareholders to receive additional contingent payments of up to $870 million based on the achievement of certain predetermined milestones. As one of the leading pharmaceutical companies in CNS drug development globally, AbbVie makes the perfect partner to maximize the potential benefit of Syndesi's lead candidate, SDI-118, for the treatment of cognitive impairment across multiple diseases.". Moldova (+373) Syndesi was created through a partnership between UCB Biopharma SRL and a syndicate of Belgian and international investors to further develop novel SV2A modulators that had been originally discovered by UCB. Kuwait (+965) Oman (+968) | Out of 60 sectors in the Mergr database, life science ranked 7 in number of deals in 2022.The largest life science acquisition in 2022 was Viatris - Biosimilars - which was acquired by Biocon for $3.3B.. Join Mergr to view all 112 acquisitions of life science companies in 2022, including 5 acquisitions by private equity firms, and . Switzerland (+41) This acquisition gives ABBV ie. Stage: Acquired Total Funds Raised: $20.8M Status: ACQUIRED Kenya (+254) Nepal (+977) Gibraltar (+350) Liberia (+231) Copenhagen, Denmark - Novo Holdings, a leading international life sciences investor, today announces that its portfolio company Syndesi Therapeutics ('Syndesi') has been acquired by AbbVie (NYSE: ABBV) for up to US$1 billion in total deal value with US$ 130 million upfront. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn. Algeria (+213) Novo Holdings also manages a broad portfolio of diversified financial assets. Syndesi was created through a partnership between UCB Biopharma SRL and a syndicate of Belgian and international investors to further develop novel SV2A modulators that had been originally discovered by UCB. Cayman Islands (+1345) When typing in this field, a list of search results will appear and be automatically updated as you type. Dominica (+1809) Before engaging, please read and adhere to our established community guidelines for each channel. Mongolia (+976) 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. Senegal (+221) Dominican Republic (+1809) North Chicago, Illinois-based AbbVie announced Tuesday that it paid $130 million up front to acquire Syndesi Therapeutics. Burundi (+257) Ireland (+353) Morocco (+212) Portfolio company to life sciences investor Novo Holdings, Syndesi Therapeutics, has been acquired by AbbVie in a deal worth a potential $1 billion. New Zealand (+64) "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.". Romania (+40) Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to AbbVie. Martinique (+596) michaels paper letters. "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," said Jonathan Savidge, chief executive officer, Syndesi Therapeutics. Falkland Islands (+500) Ukraine (+380) In this process the team has added significant insights into the biology of SV2A and the mechanism of action of the Company's lead program SDI-118. Puerto Rico (+1787) Nigeria (+234) Syndesi Therapeutics is developing molecules that uniquely modulate the synaptic vesicle protein SV2A, which plays a central role in synaptic transmission (the communication between neurons in the brain). Ethiopia (+251) They are also entitled to get further contingent payments of up to $870m on meeting specific pre-set milestones. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation's assets.Novo Holdings is recognised as a leading international life science investor, with a focus on creating long-term value. Syndesi is focused on developing therapeutics that modulate synaptic function to relieve the symptoms of cognitive impairment . Austria (+43) This acquisition gives AbbVie access to Syndesi's portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118. Synaptic dysfunction is believed to underlie the cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders. Egypt (+20) Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to AbbVie. UK (+44) Antigua & Barbuda (+1268) Syndesi's Series A financing was co-led by Novo Holdings together with Fountain Healthcare Partners, with participation from Johnson & Johnson Innovation JJDC, Inc., SRIW (Socit Rgionale d'Investissement de Wallonie), V-Bio Ventures and Vives Fund, along with UCB Ventures. Bosnia Herzegovina (+387) Myanmar (+95) Philippines (+63) Goodwin Procter LLP acted as lead legal counsel, along with Deloitte Legal, Belgium, and Lazard acted as the exclusive financial adviser to Syndesi. Slovenia (+386) French Guiana (+594) Gestion. Tunisia (+216) Hungary (+36) Bahamas (+1242) Jamaica (+1876) Sierra Leone (+232) Lebanon (+961) Korea South (+82) On March 1, 2022 AbbVie (NYSE: ABBV) reported it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio (Press release, AbbVie, MAR 1, 2022, View Source [SID1234609248]). Syndesi was created in 2018 as the result of a close collaboration between Novo Seeds, the company creation arm of Novo Holdings, and UCB Pharma, the Belgium-based global pharmaceutical company. Syndesi Therapeutics was acquired by AbbVie on March 1, 2022. from 8 AM - 9 PM ET. Djibouti (+253) Wallis & Futuna (+681) Sign up The company has also benefited from support from the Walloon Region. Under the terms of the agreement, AbbVie will pay Syndesi shareholders a $130 million upfront payment with the potential for Syndesi shareholders to receive additional contingent payments of up to $870 million based on the achievement of certain predetermined milestones. Published: 3rd Mar 2022 AbbVie announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. Mexico (+52) Select Country Bahrain (+973) Founded in December 2017 and based in Belgium, Syndesi is a clinical stage biotechnology company pioneering the development of novel therapeutics that modulate synaptic function to relieve the symptoms of cognitive impairment. 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