Bio­gen shut­ters a biotech shop in the UK as it con­tin­ues to prune R&D

A lit­tle over two years ago, Bio­gen stepped in to buy Con­ver­gence Phar­ma­ceu­ti­cals in the UK for $200 mil­lion in cash and up to $475 mil­lion in mile­stones, bag­ging its lead drug for neu­ro­path­ic pain and a port­fo­lio of ion chan­nel-mod­u­lat­ing drugs. And it made a com­mit­ment to keep­ing the com­pa­ny’s op­er­a­tions in the UK.

Un­til now. I was tipped off that Con­ver­gence has been shut­tered, and Bio­gen con­firmed it, not­ing that it is cut­ting 17 jobs in the process. Here’s the state­ment:

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