Lundbeck has signed a definitive agreement to acquire biopharma company, Prexton Therapeutics, obtaining the global rights for foliglurax — a treatment for Parkinson’s that has recently entered clinical Phase II testing.
Parkinson's
The deal, worth up to €905 million, comprises €100 million up-front payment and €805 million in development and sales milestones, and sees Lundbeck obtain the global rights for foliglurax. This small molecule, which works by stimulating a specific glutamatergic target (mGluR4) that activates a compensatory neuronal system in the brain, is in Phase II testing for the symptomatic treatment of OFF-time reduction in Parkinson’s disease and dyskinesia (uncontrolled movements) including levodopa induced dyskinesia (LID). First data from this trial is expected mid-2019.
“We are very excited to be working with Lundbeck, a company with a strong history and focus on diseases of the central nervous system,” said François Conquet, PhD, founder and chief executive Officer, Prexton. “Lundbeck shares our vision for the development of foliglurax to help patients living with Parkinson’s disease.”