A roundup of exits, including IPOs and acquisitions, across the tech transfer ecosystem.
Syndesi Therapeutics, a Belgium-based developer of therapies to treat cognitive impairment, was acquired by pharmaceutical firm AbbVie yesterday for $130m upfront, with the potential for up to $870m in milestones. The agreement provided an exit to Vives Louvain Technology Fund, the university venture fund of Université Catholique de Louvain, and V-Bio Ventures, the venture capital firm linked to research institute VIB. Syndesi last raised $21m in a series A round backed by the two aforementioned investors in February 2018, a month after it was spun out of biopharmaceutical firm UCB.
Infrasolid, a Germany-based infrared measuring device producer spun out of TU Dresden’s Institute for Solid State Electronics, was acquired last week by sensor equipment manufacturer Innovative Sensor Technology for an undisclosed amount. Infrasolid had raised an undisclosed amount from VNG vehicle VNG Innovation and TGFS – Technologiegründerfonds Sachsen in 2018.
