Alexion to acquire genetic medicine company LogicBio Therapeutics

Alexion, AstraZeneca Rare Disease has agreed to acquire LogicBio Therapeutics, an American clinical-stage genetic medicine company in a deal worth $68 million.

As per the terms of the deal, shareholders of the NASDAQ-listed LogicBio Therapeutics will be paid $2.07 per share by Alexion, AstraZeneca Rare Disease. The latter was formed following last year’s $39 billion acquisition of Alexion Pharmaceuticals by AstraZeneca.

Through the acquisition of the genetic medicine company, Alexion, AstraZeneca Rare Disease is hoped to speed up its expansion into genomic therapies courtesy of the technology, research and development (R&D) personnel for rare diseases, and expertise in pre-clinical development brought by LogicBio Therapeutics.

LogicBio Therapeutics, which has developed technological platforms for gene delivery and insertion for genetic disorders, has also developed a platform for improving the processes for producing viral vectors.

Alexion, AstraZeneca Rare Disease to acquire genetic medicine company LogicBio Therapeutics in $68m deal. Photo courtesy of D Wells/Wikimedia Commons.

Fred Chereau — LogicBio Therapeutics President and CEO, commenting on Alexion acquisition of LogicBio Therapeutics, said: “We are excited about the opportunity to bring our science and expertise in genetic medicine to Alexion, which shares our commitment to discovering treatments for rare conditions and improving the lives of patients.

“Through this acquisition, we strive to accelerate our research in gene editing and AAV capsid development and together move the field of genomic medicine forward.”

According to AstraZeneca, the combination of the platforms with the team of LogicBio Therapeutics and the advancements of Alexion since its acquisition will pave the way for new scientific possibilities in the future in addition to next generation therapies for addressing rare genetic diseases.

Commenting on Alexion acquisition of LogicBio Therapeutics, Marc Dunoyer — CEO of Alexion, AstraZeneca Rare Disease, said: “The proposed acquisition of LogicBio is a significant development for our growing research in genomic medicine.

“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.”

The closing of Alexion acquisition of LogicBio Therapeutics is conditional on the tender of at least a majority of the latter’s outstanding shares and the meeting of other conditions.