AbbVie, a research-based biopharmaceutical company, completed the acquisition of Syndesi Therapeutics, a developer of drug molecules designed to treat cognitive impairment, from Novo Holdings, a life science investor, for $1bn. "Spin-out ventures from pharmaceutical companies are an integrated part of Novo Seeds' company creation strategy, where we aim to add significant strategic and operational support to the spin-out process. AbbVie's acquisition of Syndesi is a testament to our strategy as well as to the leadership team, the assets they developed and the strategy they executed. We worked closely with the Syndesi team and our co-investors through the Company's early development and we are incredibly proud of the progress made," Morten Graugaard Døssing, Novo Holdings Partner.