Lundbeck acquires Netherlands-based Prexton Therapeutics for €955m

Denmark-based Lundbeck A/S has announced today it has acquired Netherlands-based Prexton Therapeutics BV for €955m. Specifically, the agreement includes an upfront €100m payment, plus an additional €805m if Prexton reaches precise commercial targets. Prexton’s main asset is probably foliglurax, a treatment already undergoing a Phase-II clinical trial in patients with Parkinson’s and diskynesia (LID). The Dutch group is currently trialling other investigational drugs for Alzheimer’s, depression, Parkinson’s and schizophrenia. Lundbeck’s shares lost approximately 1% (Copenhagen) as trading started, but have offset the decline during the day.

(Source: Prexton)