Biogen Idec buys analgesic developer Convergence for $200m+

Biogen Idec has agreed to pay $200m up front and up to $475m in milestones to acquire the UK developer of drugs for neuropathic pain Convergence Pharmaceuticals. The target company's most promising pipeline drug is CNV1014802, which has yielded positive Phase II results for trigeminal neuralgia (TGN), an orphan condition characterized by excruciating face pain.