Press Release March 01, 2022

Syndesi Acquired by Abbvie for up to $1 Billion

The UK Life Sciences team advised Syndesi Therapeutics and its shareholders on Syndesi’s acquisition by AbbVie (NYSE: ABBV). 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.

Founded 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. The acquisition will expand AbbVie’s neuroscience portfolio, including providing access to Syndesi’s range of novel modulators of the synaptic vesicle protein 2A (SV2A), which can potentially treat symptoms associated with a range of neuropsychiatric and neurodegenerative disorders, such as Alzheimer’s disease and major depressive disorder.

This is the second landmark deal Goodwin’s UK Life Sciences team has advised on this week following its role representing Biocon in its $3.335 billion acquisition of Viatris.

The Goodwin team was led by Andrew Harrow and Malcolm Bates and included Maria Dragun and Heidi Fitchett.

For more details, please read the press release.