Lundbeck to buy Prexton in potential $1bn+ deal
Prexton Therapeutics BV lead candidate is foliglurax, a small-molecule positive allosteric modulator of group III metabotropic glutamate receptor 4 (mGluR4 PAM), for the potential oral treatment of Parkinson's disease.
“Parkinson’s disease is characterized by an imbalanced neuronal stimulation,” an H. Lundbeck A/S spokesperson told this publication. “Foliglurax is a compound which controls glutamate release in the brain and in turn correct the symptoms of Parkinson’s disease.”
The candidate is in Phase II clinical studies but Lundbeck “will acquire the full IP of Prexton” and hopes to take it through to commercialisation.
Prexton does not have any internal manufacturing capacity, we were told, and “Lundbeck will take care of the large scale production” going forward.
Under terms of the acquisition, Lundbeck will pay €100m upfront, along with potential future payments of up to €805m in development, regulatory and sales milestones.
