Ipsen announces acquisition of research partner Syntaxin

On July 15, French pharmaceutical company Ipsen announced it has closed the acquisition of life sciences company and research partner Syntaxin.

The partnership is hoped to strengthen Ipsen’s neurology business and reinforce its peptides and toxins technological platforms.

Under terms of the agreement, Ipsen will pay Syntaxin €28 million ($37 million) upfront, and depending on whether commercial milestones are reached, make further contingent payments that could reach €130 million ($170 million).

Syntaxin and Ipsen have collaborated since 2010, and a year later signed a strategic partnership to discover and develop new compounds in the recombinant botulinum toxins. Before acquiring the UK-based company, Ipsen already owned 10 percent of Syntaxin.

Syntaxin specialises in botulinum toxin engineering, and develops treatments for pain and neuroendocrine disorders. It has an existing alliance with US Botox maker Allergan Inc.

It has 75 granted patents and more than 130 patents pending.

Ipsen develops healthcare solutions for the treatment of debilitating diseases.

Marc de Garidel, Ipsen’s chief executive, said: “We are very pleased to see Syntaxin become part of Ipsen. This is an important step in our ambition to become a global leader in targeted debilitating diseases.

“The acquisition of Syntaxin is a considerable addition to our neurology franchise and is fully aligned with our strategy of focus.”

In a statement, Ipsen said it expects to achieve full integration by the end of 2013.

On the same day, Ipsen announced it had agreed to fund Harvard Medical School’s research on novel engineered recombinant botulinum toxins for at least three years, to enable the discovery and development of treatments for neurologic diseases.