New Caledonia (+687) from 8 AM - 9 PM ET. Niger (+227) Haiti (+509) Goodwin Procter LLP acted as lead legal counsel, along with Deloitte Legal, Belgium, and Lazard acted as the exclusive financial adviser to Syndesi. . Syndesi Therapeutics's Chief Executive Officer is Jonathan Savidge. 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. Grenada (+1473) 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. Bermuda (+1441) Switzerland (+41) 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. "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.". The "Yes" link below will take you out of the AbbVie family of websites. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Syndesi Therapeutics is one of several Novo Seeds portfolio companies focused on developing better treatments for CNS disorders, an area of significant unmet medical need. - Novo Holdings co-created Syndesi Therapeutics in partnership with UCB Pharma and co-led the . 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Romania (+40) Further information : www.novoholdings.dk. Write CSS OR LESS and hit save. AbbVie assumes no duty to update the information to reflect subsequent developments. "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.". Virgin Islands - British (+1284) Czech Republic (+42) St. Lucia (+1758) To enhance its neuroscience portfolio, AbbVie has acquired Syndesi Therapeutics, a Belgium-based bio/pharmaceutical company, in a $1-billion deal ($130 million upfront and up to $870 million in milestone payments). We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. 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 (NYSE: ABBV) completed the acquisition of Syndesi Therapeutics SA, a Belgium-based clinical stage biotechnology company pioneering the development of novel . Chile (+56) Cision Distribution 888-776-0942 Malawi (+265) "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. syndesi therapeutics products. Lebanon (+961) Namibia (+264) V-Bio Ventures' Portfolio Company Syndesi Therapeutics Acquired by AbbVie to Strengthen its Neuroscience Portfolio GENT, BELGIUM, March 1, 2022 /EINPresswire.com/ -- V-Bio Ventures today announced the completion of the acquisition of its portfolio company Syndesi Therapeutics SA by AbbVie (NYSE: ABBV), which will help to expand AbbVie's neuroscience portfolio. Synaptic dysfunction is believed to underlie the cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders. The information in the press releases on these pages was factually accurate on the date of publication. Austria (+43) AbbVie has acquired Belgium-based company Syndesi Therapeutics in a deal worth up to $1bn, expanding its neuroscience portfolio. 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. 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). Bangladesh (+880) AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Spain (+34) Virgin Islands - US (+1340) Turkmenistan (+7) Cape Verde Islands (+238) Iceland (+354) Sri Lanka (+94) Syndesi Therapeutics was supported by Irish venture capital firm Fountain Healthcare Partners, which, together with Novo . French Guiana (+594) Regulating synaptic transmission represents . Malaysia (+60) Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to AbbVie. About Syndesi Therapeutics 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. Ethiopia (+251) Guadeloupe (+590) Kuwait (+965) Copyright 2019 Leo MarCom Pvt. AbbVie announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. Madagascar (+261) I am delighted with the closing of this deal. Cambodia (+855) Kazakhstan (+7) AbbVie announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. Serbia (+381) Sweden (+46) Zambia (+260) NORTH CHICAGO, Ill., AbbVie (NYSE: ABBV) today announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio.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. Terms of use Ukraine (+380) 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. Japan (+81) Congo (+242) 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. Yemen (South)(+967) Northern Marianas (+670) Slovenia (+386) Belgian company Syndesi Therapeutics was backed by Irish VC Fountain Healthcare on spin-out. Gabon (+241) 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. 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. V-Bio Ventures today announced the completion of the acquisition of its portfolio company Syndesi Therapeutics SA by AbbVie (NYSE: ABBV), which will help to 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. 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 . 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. Micronesia (+691) Belarus (+375) Ireland (+353) Panama (+507) 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. I am delighted with the announcement of this deal. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. 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. Laos (+856) 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. 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. Portfolio company to life sciences investor Novo Holdings, Syndesi Therapeutics, has been acquired by AbbVie in a deal worth a potential $1 billion. Novo Holdings also manages a broad portfolio of diversified financial assets. Eritrea (+291) Mozambique (+258) Syndesi Therapeutics was acquired by AbbVie on March 1, 2022. India (+91) | Ghana (+233) Under the deal, Abbvie will pay Syndesi shareholders $130 million (116 million) upfront. Guinea - Bissau (+245) Nepal (+977) Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn. Colombia (+57) Syndesi's unique molecules act pre-synaptically to enhance synaptic efficiency by positively modulating the function of synaptic vesicle protein 2A (SV2A), which plays a central role in regulating neurotransmission. Sierra Leone (+232) Follow @abbvie on Twitter, Facebook, Instagram, YouTubeand LinkedIn. Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. This acquisition gives ABBV ie. Readers should not rely upon the information in these pages as current or accurate after their publication dates. Fountain Healthcare Partners. NORTH CHICAGO, Ill., March 1, 2022 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. Korea North (+850) Synaptic dysfunction is believed to underlie the cognitive impairment seen in multiple neuropsychiatric and neurodegenerative disorders. - Deal value of US$ 1 billion with US$ 130 million upfront. The mechanism is currently . Oman (+968) "I am delighted with the closing of this deal. Solomon Islands (+677) Guam (+671) - Deal value of US$ 1 billion with US$ 130 million upfront, - Novo Holdings co-created Syndesi Therapeutics in partnership with UCB Pharma and co-led the Series A financing, - Syndesi's lead program SDI-118 to be accelerated by AbbVie to the benefit of patients suffering from cognitive impairment associated with a range of neurodegenerative and neuropsychiatric diseases. Slovak Republic (+421) Indonesia (+62) Antigua & Barbuda (+1268) Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Azerbaijan (+994) We use cookies to give you the best experience. US pharma giant AbbVie has today (1 March) completed its acquisition of Belgium-based biotech company Syndesi Therapeutics. AbbVie (NYSE: ABBV) today announced it has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie's neuroscience portfolio. 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. 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. Copyright 2022 AbbVie Inc. North Chicago, Illinois, U.S.A. Mayotte (+269) Andorra (+376) Turkmenistan (+993) Equatorial Guinea (+240) It has been a pleasure to partner with our investors to investigate the potential of SDI-118 in early clinical studies. Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to AbbVie. Guinea (+224) For more information about AbbVie, please visit us at www.abbvie.com. Martinique (+596) AbbVie has bolstered its neuropsychiatric and neurodegenerative portfolio with the acquisition of Belgium-based Syndesi Therapeutics in a deal valued at up to $1 billion. syndesi therapeutics products. Montserrat (+1664) Benin (+229) Published on March 6, 2022. They are also entitled to get further contingent payments of up to $870m on meeting specific pre-set milestones. Marshall Islands (+692) AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. The lead molecule, SDI-118, was discovered by UCB before being out-licensed to Syndesi as of 2018. Ltd., All Rights Reserved. United Arab Emirates (+971) Russia (+7) Gambia (+220) AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. "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, chief scientific officer, AbbVie. Advisors Denmark (+45) With an upfront payment of $130 million, AbbVie gains Syndesi's portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118. On . Bahrain (+973) Now, as part of AbbVie, the program is well positioned to move into later stages of clinical development.. Cookie Settings. 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. AbbVie will pay Syndesi shareholders an upfront payment of $130m as. The investment in Syndesi is an integral part of Novo Seeds' approach to new venture formation by co-leading spinouts from pharmaceutical companies based on assets that are no longer in-line with the corporation's overall strategy. from 8 AM - 9 PM ET. Liberia (+231) Wednesday, March 2, 2022 Novo Holdings, an international life sciences investor, annunced that its portfolio company Syndesi Therapeutics ('Syndesi') has been acquired by AbbVie for up to US$1 billion in total deal value with US$ 130 million upfront. The company has also benefited from support from the Walloon Region. AbbVie Acquires Syndesi Therapeutics, Strengthening Neuroscience Portfolio - 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 Goodwin Procter LLP acted as lead legal counsel, along with Deloitte Legal, Belgium, and Lazard acted as the exclusive financial adviser to Syndesi. Croatia (+385) If you qualify, please. Regulating synaptic transmission represents a promising approach to treating Alzheimer's Disease and other disorders with cognitive impairment. Sign up AbbVie's acquisition of Syndesi is a testament to our strategy as well as to the leadership team, the assets they developed and the strategy they executed. Finland (+358) Tonga (+676) AbbVie will pay Syndesi's shareholders a $130 million upfront payment with the potential for Syndesi's shareholders to receive additional contingent payments of up to $870 million based on the achievement of certain predetermined milestones. AbbVie (NYSE: ABBV) has acquired of Syndesi Therapeutics, giving the former access to a portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including lead molecule SDI-118. Macedonia (+389) For more information about AbbVie, please visit us atwww.abbvie.com. AbbVie is an American publicly traded biopharmaceutical company founded in 2013. ACCUEIL; SERVICES. 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. Morocco (+212) Gibraltar (+350) Syndesi is focused on developing therapeutics that modulate synaptic function to relieve the symptoms of cognitive impairment . Monaco (+377) Sudan (+249) About Syndesi Therapeutics St. Helena (+290) Goodwin Procter LLP acted as lead legal counsel, along with Deloitte Legal, Belgium, and Lazard acted as the exclusive financial adviser to Syndesi. Israel (+972) The Internet site that you have requested may not be optimized to your screen size. Barbados (+1246) AbbVies mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. Niue (+683) Brunei (+673) Aruba (+297) This area is reserved for members of the news media. Belgium (+32) No use of any AbbVie trademark, trade name, or trade dress in this site may be made without the prior written authorization of AbbVie Inc., except to identify the product or services of the company. Novo Holdings. Djibouti (+253) Thailand (+66) 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. Morten Graugaard Dssing, Board Director of Syndesi and Partner at Novo Holdings, said: "Spin-out ventures from pharmaceutical companies are an integrated part of Novo Seeds' company creation strategy, where we aim to add significant strategic and operational support to the spin-out process. "I am delighted with the closing of this deal. Falkland Islands (+500) It has been a pleasure to partner with Novo Seeds, UCB and our other investors to investigate the potential of SDI-118 in early clinical studies. Select Country With AbbVies 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.. 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