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Biogen, Inc.

Drug Names(s): GSK1014802, CNV1014802, BIIB074, BIIB 074

Description: CNV1014802 is a novel small molecule, state-dependent sodium channel blocker that exhibits potency against the relevant pain targets, such as the Nav1.7 sodium channel.

Deal Structure: CNV1014802 was originally developed by GlaxoSmithKline.

Convergence and GSK
In October 2010, Convergence Pharmaceuticals was formed following the acquisition of certain compounds, including CNV1014802, from GSK. As part of the transaction with GSK, the clinical-stage assets and associated IP have been successfully transferred from GSK to Convergence Pharmaceuticals.

Biogen IDEC and Convergence
In January 2015, Biogen Idec announced that it has agreed to acquire U.K.-based Convergence Pharmaceuticals. Under the terms of the deal, Biogen Idec will pay Convergence shareholders an upfront payment of $200 million. Convergence shareholders are eligible to receive additional payments up to $475 million contingent on future milestones.

In February 2015, Biogen completed its acquisition of U.K.-based Convergence Pharmaceuticals.

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