Biogen converges on Convergence

Biogen Idec Inc. (NASDAQ:BIIB) will acquire neuropathic pain play Convergence Pharmaceuticals Ltd. (Cambridge, U.K.) for $200 million up front. Convergence shareholders are eligible for up to $475 million in undisclosed milestones.

Convergence's lead compound CNV1014802 has completed a Phase IIa study for trigeminal neuralgia and a Phase II study for pain associated with lumbosacral radiculopathy. The state-dependent inhibitor of sodium channel subunit Nav1.7 ( SCN9A) has Orphan Drug designation from FDA to treat trigenimal neuralgia (see BioCentury, June 23, 2014). ...