Global pharmaceutical company Ipsen has acquired Syntaxin, a U.K.-based private life sciences company specialized in botulinum toxin engineering. Ipsen will pay $36.4 million up front, as well as up to $169 million in development and commercial milestones.
Syntaxin has experience in botulinum toxinbiology, supported by a patent portfolio with 75 granted patents and over 130 patents pending. Syntaxin and Ipsen started collaborating in 2010. In 2011, a global strategic partnership was entered to explore the discovery and development of new compounds in the field of recombinant botulinum toxins. Syntaxin has expertise in the discovery of new therapeutic candidates, while Ipsen applied its skills to pharmacological, preclinical and clinical assessment of the compounds.
Syntaxin has an R&D portfolio that exploits the diversity of botulinum toxins, including recombinant botulinum toxins with improved designs and properties. Dr. Keith Foster and Dr. John Chaddock, co-founders of Syntaxin, will join Ipsen to help build a toxin platform across the therapeutic areas of neurology, endocrinology and uro-oncology. Ipsen expects to achieve full integration by the end of the year.