Danish drugmaker Lundbeck has announced to acquire US company Longboard Pharmaceuticals in a deal valued at approximately $2.6 billion. Longboard, headquartered in La Jolla, California, is a clinical-stage biopharmaceutical company focused on developing novel medicines for neurological diseases.
Under the terms of the agreement, Lundbeck will make a tender offer for all outstanding shares of Longboard common stock, offering to pay Longboard shareholders $60.00 per share in cash.
The board of directors of both companies have unanimously approved the transaction, which is expected to close in the fourth quarter of 2024.
Through the acquisition of Longboard, Lundbeck gains access to bexicaserin, a novel 5-HT2C agonist in development for the treatment of seizures associated with developmental and epileptic encephalopathies (DEEs), including Dravet syndrome, Lennox-Gastaut syndrome, and other rare epilepsies. Bexicaserin has shown encouraging anti-seizure reduction in preclinical and clinical studies and is now being evaluated in a global Phase III clinical program.
Source: chemanager-online.com
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