1. Scrip
  2. >>Therapy Areas
  3. >>Neurological

Biogen Idec buys analgesic developer Convergence for $200m+

 
• By Eleanor Malone

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.

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.

Convergence was spun out of GlaxoSmithKline in 2010 after the UK pharma giant announced it would stop researching depression and pain. Its assets focus on ion channel modulation to treat...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Neurological

In Brief: Neurocrine Details New Data For Schizophrenia Drug Moving To Phase III

 
• By Sushmita Panda

Neurocrine reports new details of positive Phase II results in schizophrenia and a favorable safety and cardiovascular profile for its first-in-class oral M4 agonist, now moving to Phase III trials.

Lilly To Diversify Pain Pipeline With SiteOne Acquisition

 
• By Joseph Haas

Deal snapshot: With several internal non-opioid pain candidates in Phase II or earlier, Lilly looks to add R&D potential in pain with $1bn buyout of SiteOne.

Angelini Advances Brain Health Ambitions With GRIN Pact

 
• By Kevin Grogan

The Italian drugmaker gets rights to Phase III-ready asset radiprodil.

Sanofi Makes Alzheimer’s Bet With Vigil Buy

 
• By Kevin Grogan

The French drugmaker is expanding its neurology activities with the $470m deal.

More from Therapy Areas

In Brief: Neurocrine Details New Data For Schizophrenia Drug Moving To Phase III

 
• By Sushmita Panda

Neurocrine reports new details of positive Phase II results in schizophrenia and a favorable safety and cardiovascular profile for its first-in-class oral M4 agonist, now moving to Phase III trials.

Astellas Gets CLDN.18.2-Targeted ADC From China’s Evopoint

 
• By Joseph Haas

Astellas will pay $130m up front for near-global rights to a Phase I/II antibody-drug conjugate that will add to its portfolio of CLDN.18.2-targeted drugs, including Vyloy.

Merck & Co./Daiichi Pull Patritumab Deruxtecan BLA On Disappointing OS

 
• By Jessica Merrill

Patritumab deruxtecan is the lead antibody drug conjugate in a $22bn deal signed between the two partners, with the decision marking a disappointing setback