Pharma Acquisition Lundbeck Signs Agreement with Prexton Therapeutics
According to the deal, Lundbeck will make an upfront payment of 123 million dollars. In addition to this, an amount of 988 million dollars will be paid to the group of current owners for development and sales milestones.
Denmark/The Netherlands – The global pharmaceutical company, H Lundbeck and Prexton Therapeutics, a biopharmaceutical company have recently announced the signing of a definitive agreement in which Lundbeck will acquire Prexton. Under terms of the agreement, Lundbeck will pay 123 million dollars upfront and is furthermore required to later pay up to 988 million dollars in development and sales milestones to the group of current owners.
By acquiring Prexton, Lundbeck will obtain global rights of an attractive compound (foliglurax) which currently is in clinical phase II testing for symptomatic treatment of OFF-time reduction in Parkinson’s disease and dyskinesia including Levodopa Induced Dyskinesia. First data from the ongoing clinical phase II programme is expected to be available during the first half of 2019.