BioCentury
ARTICLE | Company News

Ipsen acquires Syntaxin

July 16, 2013 12:50 AM UTC

Ipsen Group (Euronext:IPN; Pink:IPSEY) acquired the 90% of partner Syntaxin Ltd. (Abingdon, U.K.) it did not already own for EUR 28 million ($36.6 million) in cash up front, plus about EUR 130 million ($169.8 million) in milestones. Ipsen gains Syntaxin's patent portfolio related to botulinum toxin biology, which Ipsen said will allow for the development of targeted secretion inhibitors for indications across its therapeutic areas of neurology, endocrinology and urologic oncology. Ipsen and Syntaxin partnered in 2011 to discover and develop compounds to treat botulinum toxin. Syntaxin's AGN-214868 (SXN100323) has completed Phase II testing to treat idiopathic overactive bladder (OAB) and urinary incontinence and post-herpetic neuralgia (PHN). The targeted secretion inhibitor is partnered with Allergan Inc. (NYSE:AGN). ...