Alexion, AstraZeneca Rare Disease has entered a definitive agreement to acquire genomic medicine company LogicBio Therapeutics, Inc.
The proposed acquisition aims to accelerate Alexion’s growth in genomic medicines through LogicBio’s technology, rare disease R&D experience and pre-clinical development expertise.
LogicBio develops 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.
Marc Dunoyer, Chief Executive Officer, 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.”
Through a subsidiary, Alexion will initiate a cash tender offer to acquire all outstanding shares of LogicBio for $2.07 per share.
The transaction has been unanimously agreed by both boards
Fred Chereau, President and Chief Executive Officer, LogicBio, 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.”
