Danish drugmaker Lundbeck agreed to buy Prexton Therapeutics, a specialist in treatments for brain disorders, in a deal potentially worth $1.1 billion
The takeover will give Lundbeck control of Prexton’s drug candidate, foliglurax, an experimental Parkinson’s disease treatment currently in phase II testing. Data on foliglurax is expected to be available in the first half of 2019.
Lundbeck, which develops and distributes drugs for neurological and psychological diseases, said it will pay 100 million euros ($123 million) up front for Prexton and make up to 805 million euros ($992 million) in development, regulatory and sales milestones payments.
Read the press release