Syntonix technology has the potential to enhance the delivery of biopharmaceuticals through less frequent injections or by enabling pulmonary delivery.
Syntonix’s lead product, FIX:Fc, is a being developed for the treatment of hemophilia B. Syntonix is expected to file an investigational new drug application with the Food and Drug Administration for FIX:Fc in 2007. FIX:Fc is being developed in a strategic alliance with Biovitrum AB of Sweden.
“With this transaction, we continue to deliver on our strategic initiative to enhance our pipeline and expand into additional specialized markets,” said James Mullen, Biogen Idec’s president and CEO.
The transaction is expected to close in the first quarter of 2007. Biogen Idec may receive additional payments of up to $80 million upon the achievement of certain development milestones.
Biogen Idec said it plans to maintain Syntonix’s 25,000 square-foot facility in Waltham, Massachusetts for the continuing operation of Syntonix programs.