Lundbeck has announced its plans to acquire Longboard Pharmaceuticals in a move to boost its neuroscience pipeline.
The $2.6 billion deal will bring Longboard's innovative treatments for rare neurological conditions under Lundbeck’s wing, with a key focus on Developmental and Epileptic Encephalopathies (DEEs). Longboard’s lead drug, bexicaserin, is currently in late-stage trials for treating rare forms of epilepsy like Dravet syndrome and Lennox-Gastaut syndrome.
The deal offers $60 per share in cash to Longboard’s shareholders, reflecting a significant premium on recent stock prices. Both companies’ boards have given their approval, and the deal is expected to close by the end of 2024, pending regulatory approvals and other final steps.
Bexicaserin has already shown promising anti-seizure results in early studies and uses a unique approach targeting 5-HT2C receptors. By adding bexicaserin to its portfolio, Lundbeck strengthens its position in treating neuro-rare diseases.