M&A Deal Summary

Biogen Acquires Syntonix Pharmaceuticals

On February 1, 2007, Biogen acquired life science company Syntonix Pharmaceuticals from Alta Partners and Bay City Capital for 120M USD

Acquisition Highlights
  • This is Biogen’s 2nd transaction in the Life Science sector.
  • This is Biogen’s 7th largest (disclosed) transaction.
  • This is Biogen’s 1st transaction in the United States.
  • This is Biogen’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2007-02-01
Target Syntonix Pharmaceuticals
Sector Life Science
Buyer(s) Biogen
Sellers(s) Alta Partners
Bay City Capital
Deal Type Add-on Acquisition
Deal Value 120M USD

Target

Syntonix Pharmaceuticals

Waltham, Massachusetts, United States
Syntonix Pharmaceuticals, Inc. is a needle-free drug delivery company utilizing the FcRn receptor to transport macromolecules across epithelial barriers in the central airway and into circulation.

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Buyer(S) 1

Buyer

Biogen

Cambridge, Massachusetts, United States

Category Company
Founded 1978
Sector Life Science
Employees7,605
Revenue 9.7B USD (2024)
DESCRIPTION
Entrance to Biogen office in Weston, Massachusetts.
Entrance to Biogen office in Weston, Massachusetts.

Biogen is a biopharmaceutical company focused on discovering, developing, and delivering worldwide therapies for people living with serious neurological and neurodegenerative diseases as well as related therapeutic adjacencies. Biogen was founded in 1978 and is based in Cambridge, Massachusetts.


DEAL STATS #
Overall 2 of 9
Sector (Life Science) 2 of 9
Type (Add-on Acquisition) 2 of 7
State (Massachusetts) 1 of 2
Country (United States) 1 of 6
Year (2007) 1 of 1
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-31 Fumapharm AG

Luzern, Switzerland

Fumapharm is a privately held pharmaceutical company headquartered in Lucerne, Switzerland. FUMADERM, an oral product containing fumaric acid esters, was approved in Germany in 1994 where it is the leading prescription for oral systemic treatment of severe psoriasis. Fumedica GmbH distributes FUMADERM in Germany.

Buy $761M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-14 Stromedix

Cambridge, Massachusetts, United States

Stromedix, Inc., is a privately held biotechnology company based in Cambridge, Massachusetts, focused on innovative therapies for fibrosis and organ failure. Stromedix's investors include Atlas Venture, New Leaf Venture Partners, Bessemer Venture Partners, Red Abbey Venture Partners, and Frazier Healthcare.

Buy $562M

Seller(S) 2

SELLER

Alta Partners

Jackson, Wyoming, United States

Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1996
PE ASSETS 2.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Alta Partners is a venture capital firm that targets investments in early and later stage life science companies, including biopharmaceuticals, medical technology, and information technology businesses. Alta was formed as an early stage investor but has since expanded its investment range to provide later stage growth capital to private and young public companies. Alta was established in 1996 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 33 of 85
Sector (Life Science) 22 of 65
Type (Add-on Acquisition) 22 of 45
State (Massachusetts) 1 of 8
Country (United States) 28 of 75
Year (2007) 2 of 6
Size (of disclosed) 20 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 Arrow Therapeutics

London, United Kingdom

Arrow Therapeutics utilizes its genome-based target discovery technology to search for novel anti-microbial compounds. The Company is focused on unexplored targets for antibiotics, anti-viral, and anti-fungal therapies and aims to overcome the rapidly growing problem of microbial resistance.

Sell $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-14 Netli

Mountain View, California, United States

Netli is the first service provider to deliver a business-quality Internet. Netli addresses the limitations of the Internet and enables customers to transparently extend the reach of their Web-enabled enterprises without distributing complex applications or paying for costly additional infrastructure

Sell $178M
SELLER

Bay City Capital

San Rafael, California, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Bay City Capital LLC was established in 1997 as an equal partnership between The Craves Group and certain Pritzker family business interests for the purpose of managing investment funds in the life sciences industry. Bay City looks for opportunities at all stages of development in biopharmaceuticals, drug discovery, medical devices and diagnostics. Bay City Capital is based in San Francisco, California.


DEAL STATS #
Overall 22 of 63
Sector (Life Science) 15 of 46
Type (Add-on Acquisition) 10 of 31
State (Massachusetts) 2 of 9
Country (United States) 21 of 60
Year (2007) 1 of 4
Size (of disclosed) 12 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 NextWave Pharmaceuticals

Cupertino, California, United States

NextWave Pharmaceuticals is a specialty pharmaceutical company developing extended release OTC and prescription products for children and adults. NextWave Pharmaceuticals was founded in 2005 and is based in Cupertino, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Itamar Medical

Caesarea, Israel

Itamar Medical is a medical device company which develops, markets and sells diagnostic medical devices based on the PAT™ (Peripheral Arterial Tone) signal. The PAT signal is a non-invasive "window" to the cardiovascular system and the autonomic nervous system. Itamar Medical was founded in 1997 and is based in Caesarea, Israel.

Sell -