Synageva BioPharma

Synageva BioPharma Corp. operated as a biopharmaceutical firm concentrated on the discovery, development, and commercialization of therapeutic products for patients with rare and devastating diseases. The company was originally incorporated as AviGenics, Inc. in 1996, founded by Dr. Robert Ivarie of the University of Georgia. A significant shift in strategy occurred in 2008 when Sanj K. Patel, a former executive at Genzyme Corporation, was brought in as CEO. Patel refocused the company on developing treatments for rare diseases, moving away from its initial business of creating bio-similar drugs.

The company's core asset was a proprietary technology platform utilizing a transgenic Gallus expression system to produce recombinant DNA proteins in the egg whites of genetically engineered chickens. This method allowed for the creation of proteins with specific glycan structures crucial for targeted cell delivery. Synageva went public on the NASDAQ in November 2011 through a reverse merger with Trimeris, Inc. The company’s primary business model was centered on developing a pipeline of protein-based therapies for rare diseases with unmet medical needs and bringing them to market.

Synageva's lead product candidate was Kanuma® (sebelipase alfa), an enzyme replacement therapy designed to treat Lysosomal Acid Lipase Deficiency (LAL-D), a rare and often fatal genetic disorder. LAL-D causes a buildup of fatty material in the liver, blood vessels, and other tissues. Before its acquisition, Synageva was preparing for the global launch of Kanuma, which had received priority review status from the FDA and accelerated assessment from the European Medicines Agency. In addition to Kanuma, the company's clinical pipeline included SBC-103, an enzyme replacement therapy for patients with mucopolysaccharidosis IIIB (MPS IIIB), and over 30 preclinical programs.

In a landmark deal for the biotech sector, Alexion Pharmaceuticals announced its acquisition of Synageva in May 2015 for approximately $8.4 billion. The acquisition, which was unanimously approved by both boards and completed in June 2015, was a strategic move by Alexion to strengthen its global leadership in rare diseases and diversify its revenue streams. The price represented a premium of about 140% over Synageva's share price at the time, underscoring the perceived value of its pipeline, especially Kanuma. Following the acquisition, the FDA approved Kanuma in December 2015.

Keywords: Synageva BioPharma, Alexion acquisition, rare disease therapeutics, enzyme replacement therapy, LAL Deficiency, Kanuma, sebelipase alfa, Sanj K. Patel, Robert Ivarie, AviGenics, recombinant protein production, transgenic chicken, egg white expression system, lysosomal storage disorders, MPS IIIB, SBC-103, biopharmaceutical, biotechnology, orphan drugs, genetic diseases