Biogen acquires Convergence Pharmaceuticals for $675 million

Biogen Idec announced that it has agreed to acquire U.K.-based Convergence Pharmaceuticals, a clinical-stage biopharmaceutical company with an innovative portfolio of ion channel-modulating product candidates for Neuropathic Pain. Biogen Idec plans to leverage Convergence’s expertise in chronic pain research and clinical development to accelerate the growth of its pain portfolio. The acquisition is centered on the development of Convergence’s Phase II clinical candidate (CNV1014802), which has demonstrated clinical activity in proof of concept studies for Trigeminal Neuralgia (TGN), a chronic orphan disease consisting of debilitating, episodic facial pain. CNV1014802 is a novel small molecule state-dependent sodium channel blocker that preferentially inhibits Nav 1.7 ion channels.he Nav 1.7 ion channel is a genetically validated target for pain in humans. Additionally, CNV1014802 has demonstrated proof of concept for treating pain associated with lumbosacral radiculopathy, more commonly known as sciatica, and has potential applicability in several other neuropathic pain states.