- AstraZeneca Plc AZN subsidiary Alexion has agreed to purchase LogicBio Therapeutics Inc LOGC for $2.07 per share. Both bodies unanimously approved the transaction.
- Alexion plans to close the deal in four to six weeks, subject to the delivery of at least a majority of LogicBio’s outstanding common shares.
- The plan is to keep LogicBio employees in their current location.
- Also read: LogicBio Therapeutics stock skyrockets as FDA lifts clinical lockdown on its pediatric trial.
- The proposed acquisition will bring LogicBio’s unique technology, experienced rare disease R&D team and pre-clinical development expertise to support Alexion’s growth in genomic medicines.
- Fred Chereau, LogicBio’s President and Chief Executive Officer, said, “Through this acquisition, we seek to accelerate our research in gene editing and AAV capsid engineering and together advance the field of genomic medicine.”
- LogicBio has developed technology platforms for gene delivery and insertion to address genetic diseases and a platform to improve viral vector manufacturing processes.
- Price promotion: LOGC shares are up 633.9% to $2.00 during the premarket session on last check Monday.
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