H. Lundbeck A/S, a (OMX: LUN) Danish international pharmaceutical company, is to acquire Oss, the Netherlands- and Geneva, Switzerland-based biopharmaceutical company Prexton Therapeutics BV, for €905m.
Under terms of the agreement, Lundbeck will pay €100m upfront plus €805m in development and sales milestones.
Founded in 2012 by Francois Conquet and M-Ventures, the corporate venture arm of Merck, and also and backed by Forbion, Seroba Life Sciences, Sunstone Capital and Ysios Capital, Prexton applies a new scientific approach that fully integrates molecular, behavioral and chemistry technologies to address Parkinson’s disease and other brain disorders.
The company is advancing Foliglurax, a small molecule, which works by stimulating a specific glutamatergic target (mGluR4) that activates a compensatory neuronal system in the brain. Pre-clinical studies have demonstrated positive effects in models of Parkinson’s disease. The aim is to treat the motor symptoms of Parkinson’s disease, such as resting tremor and dyskinesia.
By acquiring Prexton, Lundbeck will obtain global rights for foliglurax, which currently is in clinical phase II testing for the symptomatic treatment of OFF-time reduction in Parkinson’s disease and dyskinesia (uncontrolled movements) including Levodopa Induced Dyskinesia (LID).
First data from the ongoing clinical phase II program is expected to be available in mid-2019.