BioPharma Dive October 3, 2022
The small deal, brokered by AstraZeneca’s Alexion unit, gives the company a greater foothold in genetic medicine.
AstraZeneca’s rare disease unit Alexion will acquire gene editing specialist LogicBio Therapeutics in a small buyout deal, the companies announced Monday.
Under the terms of the agreement, Alexion will acquire all of LogicBio’s outstanding shares for $2.07 each, representing a total deal value of about $68 million. The purchase price equates to a premium of more than 600% on LogicBio’s closing share price of $0.27 Friday.
The acquisition, which is expected to close in four to six weeks, will expand Alexion’s foothold in gene editing, an area its parent AstraZeneca has begun to explore.
For LogicBio, the deal is an attractive exit after...
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