Lundbeck to acquire Prexton Therapeutics adding foliglurax in clinical phase II to its pipeline of innovative treatments for patients suffering from Parkinson’s disease
H. Lundbeck A/S (Lundbeck) and Prexton Therapeutics BV (Prexton) today announced signing of a definitive agreement in which Lundbeck will acquire Prexton. Under terms of the agreement, Lundbeck will pay EUR 100 million (approximately DKK 750 million) upfront and is furthermore required to later pay up to EUR 805 million (approximately DKK 6 billion) in development and sales milestones to the group of current owners.
By acquiring Prexton, Lundbeck will obtain global rights of an attractive compound (foliglurax) which currently is in clinical phase II testing for symptomatic treatment of OFF-time reduction in Parkinson's disease and dyskinesia including Levodopa Induced Dyskinesia (LID). First data from the ongoing clinical phase II programme is expected to be available during the first half of 2019.
"By acquiring Prexton, Lundbeck will obtain global rights to foliglurax, an exciting first-in-class compound, and gain full control of the asset," said Anders Götzsche, interim CEO and CFO at Lundbeck. "Foliglurax addresses high unmet needs with its potential indication in Parkinson's fitting perfectly within Lundbeck's core areas and this treatment option also appears to be highly interesting for patients, physicians and payors."
Foliglurax works by stimulating a specific glutamatergic target (mGluR4) which activates a compensatory neuronal system in the brain which is largely unaffected in Parkinson's disease. Animal models have convincingly demonstrated positive effects in models of Parkinson's disease. The aim is to treat the motor symptoms of Parkinson's disease, such as resting tremor, muscle rigidity and uncontrolled movements (dyskinesia).