Lundbeck to Acquire Prexton Therapeutics
Danish drugmaker Lundbeck has announced plans to buy Swiss drug developer Prexton Therapeutics in a deal worth up to €905 million.
The deal would give Lundbeck global rights to Prexton’s foliglurax, a first-in-class experimental therapy for Parkinson’s disease that is currently in Phase II trials. First data from the clinical Phase II program is expected to be available in mid-2019.
Foliglurax works by stimulating a specific glutamatergic target that actives a compensatory neuronal system in the brain. The aim is to treat the motor systems of Parkinson’s, such as resting tremor and dyskinesia. Lundbeck said pre-clinical studies have demonstrated positive effects in models of the neurological condition, which affects around 6 million people worldwide.
Under the terms of the agreement, Lundbeck will pay €100 million upfront to Prexton, plus up to €805 million on development, regulatory and sales milestones
M-Ventures, the corporate venture arm of Germany’s Merck KGaA, co-founded Prexton in 2012 with Francois Conquet, formerly director, licensing and business development at Merck Serono and CEO/founder of Addex Therapeutics. Prexton said it applies a new scientific approach that fully integrates molecular, behavioral and chemistry technologies to address Parkinson’s disease and other brain disorders.
