Deal Watch: AbbVie Adds Neuroscience Heft With Syndesi Acquisition
AbbVie pays $130m up front with up to $870m in earnout potential for UCB spinout focused on SV2A modulators. BioNTech gets rights to preclinical TCR candidates for solid tumors from Medigene.
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Pfizer’s acquisition of Arena without FTC intervention and Hikma’s acquisition of Custopharm with one product divestiture shows the commission is bound by anticompetitive facts of a deal. A more controversial merger may not get through, former FTC attorney says.
The Massachusetts-based biotech’s fundraise will be used to discover and develop molecular glues with an initial focus on cancer targets.
Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.