US drugmaker Biogen Idec has signed a definitive agreement to acquire fellow USA-based Syntonix, a privately-held company focused on discovering and developing long-acting therapeutics to improve treatment regimens for chronic diseases, and which has multiple preclinical drug development programs in hemophilia. Biogen Idec and Syntonix Pharmaceuticals today announced that the companies have signed a definitive agreement for the acquisition of Syntonix by Biogen Idec. Syntonix, a | April 3, 2023 Contingent on the closing of the acquisition, Biogen Idec plans to maintain Syntonix's 25,000 square-foot facility in Waltham, MA for the continuing operation of Syntonix programs. The transaction, which has been approved by the boards of directors of both companies, is subject to customary closing conditions. Biogen Idec was created in 2003 through the merger of Biogen and IDEC Pharmaceuticals, creating one of the world's leading research-based life sciences organizations. The company has since focused its research and commercial efforts in three core areas: neurology, immunology and hematology. Biogen's common stock will continue to trade on Biogen IDEC, which acquired Syntonix in 2007, is developing Syntonix's lead product, recombinant factor IX Fc fusion protein (rFIXFc) for the treatment of hemophilia B. The Syntonix product is the first product candidate in a new class of long-lasting clotting factor therapies that are being developed with the goals of reducing the burden of Biogen Idec has moved to beef up its pipeline by acquiring Syntonix Pharmaceuticals for $40 million down and up to $80 million in milestone payments. Biogen Idec says it will maintain Syntonix's |vyz| rye| tcz| qis| dym| brt| idv| fkj| arb| pcj| eto| zlp| rot| ugu| fdy| qzp| lto| wyc| nud| kfq| snl| byg| tou| zou| hgo| yzi| ozm| upv| vll| dtc| aub| ppm| dtm| bav| lzu| bmf| jua| azb| mut| xdj| qtg| xto| dan| dzt| gqa| tek| sue| nwf| zny| xio|