Alexion Strengthens Genomics with LogicBio Buy
AstraZeneca’s rare disease arm Alexion has agreed to acquire LogicBio, a US clinical-stage specialist in genomic medicines.
Through a subsidiary, the drugmaker will initiate a cash tender offer to acquire all outstanding shares for $2.07 per share. The boards of both companies have unanimously approved the transaction, which Alexion plans to close in the coming four to six weeks.
LogicBio has developed two technology platforms: GeneRide and sAAVy. The Lexington, Massachusetts-based firm said GeneRide is a new approach to precise gene insertion harnessing a cell's natural DNA repair process and potentially leading to durable therapeutic protein expression levels.
Its sAAVy technology is an adeno-associated virus (AAV) capsid engineering platform designed to optimize gene delivery for treatments in a broad range of indications and tissues. In addition, LogicBio has a proprietary manufacturing process called mAAVRx that is designed to improve the yield and product quality of viral vector manufacturing processes
Commenting on the acquisition, Marc Dunoyer, CEO of Alexion, AstraZeneca Rare Disease, said: “LogicBio's people, experience and platforms provide new scientific capabilities by adding best-in-class technology and expertise to our genomic medicine strategy. The scientific collaboration between Alexion and AstraZeneca has been a substantial area of focus since last year's acquisition and the addition of LogicBio will expand this foundational work."
Alexion, AstraZeneca Rare Disease, was created following AstraZeneca’s $39 billion purchase of Alexion Pharmaceuticals in July 2021. The acquisition marked AstraZeneca’s entry into the field of rare diseases.
In September 2021, the new comany announced it was taking full control of Caelum Biosciences, gaining access to rare disease drug CAEL-101 for the potential treatment of light chain amyloidosis, a build-up of amyloid proteins in the body’s organs and tissues.
Author: Elaine Burridge, Freelance Journalist
