Published On: Fri, Mar 16th, 2018

Danish pharma company Lundbeck to buy Parkinson’s drug developer Prexton

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Pharma acquisition news : Danish pharma company Lundbeck has reached an agreement, expected to be worth around $1.1 billion, to acquire Prexton Therapeutics, a Swiss pharma company focused on Parkinson’s drug development.

As per the terms of Lundbeck acquisition of Prexton, the Danish pharma company will pay around $123 million upfront and later on will pay up to about $990 milion in development and sales milestones to the Parkinson’s drug developer.

Lundbeck acquisition of Prexton Therapeutics will give the former global rights to the Swiss pharma company’s foliglurax, an investigational compound to treat Parkinson’s disease.

Headquarters of Danish pharma company Lundbeck in Valby, Denmark

Headquarters of Danish pharma company Lundbeck in Valby, Denmark. Photo courtesy of H. Lundbeck A/S.

Currently, foliglurax is being evaluated in a clinical phase II trial for symptomatic treatment of OFF-time reduction in Parkinson’s disease and dyskinesia including Levodopa Induced Dyskinesia (LID).

Prexton is expected to get first data from the phase 2 trial of foliglurax during the first half of 2019.

By stimulating a specific glutamatergic target (mGluR4), foliglurax activates a compensatory neuronal system in the brain which mostly remains unaffected in Parkinson’s disease.

Commenting on Lundbeck acquisition of Prexton Therapeutics, Anders Gotzsche -interim CEO and CFO of Lundbeck, said: “By acquiring Prexton, Lundbeck will obtain global rights to foliglurax, an exciting first-in-class compound, and gain full control of the asset.

“Foliglurax addresses high unmet needs with its potential indication in Parkinson’s fitting perfectly within Lundbeck’s core areas and this treatment option also appears to be highly interesting for patients, physicians and payors.”

Earlier this year, Lundbeck had entered into a research partnership with US-based Vanderbilt University to develop new and better treatments for schizophrenia.

For more pharma acquisition news like Lundbeck acquisition of Prexton, keep following Business-News-Today.com.

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