Syndesi Therapeutics Acquisition, Valuation, Funding & Investors

Syndesi Therapeutics was acquired by AbbVie for $1B in March 2022.

Syndesi Therapeutics acquisition price

$1B

Acquired by AbbVie · Mar 2022

Cumulative funding Syndesi Therapeutics raised

$28M

across 2 funding rounds

Key investors in Syndesi Therapeutics

  • Novo Holdings
  • Johnson & Johnson Innovation
  • S.R.I.W.
  • Fountain Healthcare Partners
  • V-Bio Ventures
  • VIVES Funds
  • UCB Ventures

Syndesi Therapeutics Overview

About Syndesi Therapeutics

Syndesi Therapeutics is a Lausanne-based biotech developing small molecules targeting SV2A to modulate synaptic transmission for Alzheimer's and cognitive disorders. The platform, exclusively licensed from UCB in 2021, advances lead compounds into Phase 1 trials demonstrating safety and biomarker modulation. Syndesi focuses on protein-protein interactions regulating neurotransmitter release. Founded in 2020, it collaborates with CROs in Switzerland for preclinical efficacy in amyloid and tau models.


Founded

2018

HQ

BelgiumBrussels

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$1B (acquired Mar 2022)

Syndesi Therapeutics Acquisition

Syndesi Therapeutics was acquired by AbbVie for $1B on 1 March 2022.

Before the acquisition Syndesi Therapeutics had raised $28M across 2 funding rounds.

Syndesi Therapeutics acquisition details
AcquirerDateTypePrice
1 Mar 2022Strategic M&A$1B

Syndesi Therapeutics Funding History

Syndesi Therapeutics has raised a total of $28M across 2 funding rounds.

Syndesi Therapeutics' first fundraising round was a $21M Series A in February 2018. The most recent completed round was a $7M Series A in September 2020.

Syndesi Therapeutics funding rounds

Syndesi Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2020Series ANovo Holdings (lead); S.R.I.W.; UCB Ventures; VIVES Funds; Fountain Healthcare Partners; V-Bio Ventures; Johnson & Johnson Innovation$7MSyndesi Therapeutics is a Belgium-based biotech company developing novel modulators of the synaptic vesicle protein 2A (SV2A), including lead candidate SDI-118, for treating cognitive impairment in neurodegenerative and neuropsychiatric diseases such as Alzheimer's and major depressive disorder. The company was co-created in 2018 by Novo Holdings' Novo Seeds and UCB Pharma, licensing SDI-118 from UCB to advance into clinical Phase 1b studies. Syndesi's Series A financing was co-led by Novo Holdings and Fountain Healthcare Partners, with participation from Johnson & Johnson Innovation – JJDC, Inc., SRIW, UCB Ventures, V-Bio Ventures, and Vives Louvain Technology Fund. In March 2022, AbbVie acquired Syndesi for up to $1 billion, including $130 million upfront and up to $870 million in milestones, to bolster its neuroscience portfolio with SDI-118, which had shown safety and tolerability in Phase 1 studies and was entering proof-of-principle trials.
Feb 2018Series ANovo Holdings (lead); S.R.I.W.; VIVES Funds; Fountain Healthcare Partners; V-Bio Ventures; Johnson & Johnson Innovation$21MSyndesi Therapeutics is a Belgium-based biotech company focused on developing novel modulators of the synaptic vesicle protein 2A (SV2A) for treating cognitive impairment associated with neurodegenerative and neuropsychiatric disorders, including Alzheimer’s disease and major depressive disorder. The company exclusively licensed its lead candidate SDI-118, a first-in-class small molecule, from UCB Biopharma and progressed it into Phase 1b proof-of-principle studies. Syndesi was co-created in 2018 through a collaboration between Novo Seeds (part of Novo Holdings) and UCB Pharma as a spinout for assets no longer aligned with UCB's strategy. In February 2018, Syndesi raised a Series A round totaling €17 million (approximately $20.7 million), co-led by Novo Seeds and Fountain Healthcare Partners, with participation from Johnson & Johnson Innovation, S.R.I.W., V-Bio Ventures, and Vives Louvain Technology Fund. This funding enabled the company to advance SDI-118 from early development into clinical studies, including two small Phase I trials that demonstrated safety, tolerability, and promising EEG data on brain activity, followed by Phase Ib dosing about eight months later. In March 2022, AbbVie acquired Syndesi for up to $1 billion, including a $130 million upfront payment and up to $870 million in milestone payments, to bolster its neuroscience portfolio with SDI-118. Investors, including Fountain Healthcare Partners and Novo Holdings, benefited from the exit, positioning the program for late-stage development under AbbVie.

Who has invested in Syndesi Therapeutics?

7 investors have backed Syndesi Therapeutics across its funding rounds, including Novo Holdings, Johnson & Johnson Innovation, S.R.I.W., Fountain Healthcare Partners, V-Bio Ventures and VIVES Funds.

Lead investors include Novo Holdings.


Syndesi Therapeutics Investors

Investors in Syndesi Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
Novo HoldingsDenmarkCopenhagen2LeadFeb 2018
S.R.I.W.BelgiumBelgium2ParticipantFeb 2018
VIVES FundsBelgiumWavre2ParticipantFeb 2018
Fountain Healthcare PartnersUnited StatesNew York City, NY2ParticipantFeb 2018
V-Bio VenturesBelgiumGhent2ParticipantFeb 2018

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Syndesi Therapeutics Competitors

Syndesi Therapeutics competitors include listed companies like TchaikaPharma and Chengdu Kanghua, and private ones like BenevolentAI, Biossil, Immunai and Orca Bio.

Public and private companies comparable to Syndesi Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BenevolentAIUnited KingdomLondonPrivate$10M-$1B100.0x
BiossilCanadaTorontoPrivate--$1B-
ImmunaiUnited StatesNew York City, NYPrivate--$1B-
Orca BioUnited StatesSan Francisco, CAPrivate--$1B-
TchaikaPharmaBulgariaBulgariaPublicly listed$37M$5M$1000M-
Chengdu KanghuaChinaChinaPublicly listed$175M$50M$996M4.6x

Syndesi Therapeutics Public Comps

Syndesi Therapeutics is no longer listed, but its public comps include TchaikaPharma, Chengdu Kanghua, Changchun BCHT, Savara, Harrow, Alto Neuroscience, MoonLake, Strides Pharma, Oscotec and TOWA Pharmaceutical.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
TchaikaPharma$37M$5M27.5x-187.4x-
Chengdu Kanghua$175M$50M4.9x4.6x17.1x16.9x
Changchun BCHT$91M($30M)11.5x11.8x(34.9x)(39.5x)
Savara-($123M)-430.7x(6.9x)-
Harrow$272M$42M4.5x3.6x28.8x16.6x
Alto Neuroscience-($67M)--(11.5x)(6.9x)
MoonLake-($220M)--(2.7x)(2.3x)
Strides Pharma$492M$106M2.3x2.1x10.9x10.7x

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Common questions about Syndesi Therapeutics

When was Syndesi Therapeutics founded?Syndesi Therapeutics was founded in 2018.
Where is Syndesi Therapeutics headquartered?Syndesi Therapeutics is headquartered in Brussels, Belgium.
Is Syndesi Therapeutics publicly listed?No, Syndesi Therapeutics was acquired by AbbVie in March 2022.
Who acquired Syndesi Therapeutics?Syndesi Therapeutics was acquired by AbbVie in March 2022.
How much was Syndesi Therapeutics acquired for?Syndesi Therapeutics was acquired for $1B in March 2022.
How much funding has Syndesi Therapeutics raised?Syndesi Therapeutics has raised $28M across 2 funding rounds.
What was Syndesi Therapeutics' last funding round?Syndesi Therapeutics' last funding round was a $7M Series A in September 2020, led by Novo Holdings.
Who are Syndesi Therapeutics' investors?Syndesi Therapeutics' investors include Novo Holdings, S.R.I.W., VIVES Funds, Fountain Healthcare Partners, V-Bio Ventures, Johnson & Johnson Innovation and UCB Ventures.
Which companies are comparable to Syndesi Therapeutics?Companies comparable to Syndesi Therapeutics include BenevolentAI, Biossil, Immunai, Orca Bio, TchaikaPharma and Chengdu Kanghua.

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