Investment Research and Business Due Diligence
Monday, July 15, 2013
Ipsen to buy Syntaxin - a specialist in the field of botulinum toxins
Prior to the acquisition, Ipsen already had roughly a 10% stake in Syntaxin. Under the terms of the agreement, Ipsen will pay 28 million euros upfront, as well as further contingent payments that could reach 130 million or more depending on the achievement of development and commercial milestones.
Furthermore Syntaxin’s shareholders will receive the greater part of additional downstream payments related to the company’s most advanced asset, currently in Phase II. That treatment, serenbotase, is being developed in partnership with the world's biggest botulinum toxin company Allergan, best-known for Botox (onabotulinumtoxin A). Serenbotase is being developed as a treatment of both post-herpetic neuralgia and overactive bladder.
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