Alexion, AstraZeneca Rare Disease acquired LogicBio Therapeutics (NASDAQ: LOGC), a Lexington, MA-based clinical-stage genomic medicine company.
Under the terms of the agreement, Alexion, through a subsidiary, will initiate a cash tender offer to acquire all outstanding shares of LogicBio for $2.07 per share. Alexion plans to close the deal in four to six weeks, subject to the tender of at least a majority of the outstanding shares of LogicBio common stock and satisfaction of other closing conditions, and plans to retain LogicBio employees at their current location.
The proposed acquisition brings LogicBio’s technology, experienced rare disease R&D team, and expertise in pre-clinical development to support Alexion’s growth in genomic medicines.
Led by Fred Chereau, President and Chief Executive Officer, LogicBio Therapeutics is a clinical-stage genetic medicine company that provides genome editing and gene delivery platforms to address rare and serious diseases from infancy through adulthood. LogicBio has developed technology platforms for the delivery and insertion of genes to address genetic diseases, as well as a platform designed to improve viral vector manufacturing processes. Its genome editing platform, GeneRide, is an approach to precise gene insertion harnessing a cell’s natural DNA repair process potentially leading to durable therapeutic protein expression levels. Its delivery platform, sAAVy, is an adeno-associated virus (AAV) capsid engineering platform designed to optimize gene delivery for treatments in a broad range of indications and tissues.
These platforms, coupled with LogicBio’s experienced team and Alexion’s advancements with AstraZeneca, will drive future scientific possibilities and next generation medicines to treat rare genetic diseases.
Marc Dunoyer, Chief Executive Officer, Alexion, AstraZeneca Rare Disease, is the group within AstraZeneca focused on rare diseases, created following the 2021 acquisition of Alexion Pharmaceuticals, Inc. As a leader in rare diseases for nearly 30 years, Alexion focuses its research efforts on novel molecules and targets in the complement cascade and its development efforts on haematology, nephrology, neurology, metabolic disorders, cardiology and ophthalmology. Headquartered in Boston, Massachusetts, Alexion has offices around the globe and serves patients in more than 50 countries.
FinSMEs
04/10/2022