BELGIUM – UCB has completed the previously announced acquisition of international biopharmaceutical firm Zogenix for up to US$1.9 billion (€1.7 billion).
UCB signed a definitive agreement in January to acquire all outstanding shares of Zogenix.
The acquisition value, according to the agreement, is US$26 per share in cash and a non-tradeable contingent value right (CVR).
Furthermore, the transaction value includes a CVR for a cash payment of US$2 per share if Fintepla receives approval in the EU by December 31 next year to treat seizures associated with Lennox-Gastaut syndrome (LGS).
The latest merger is expected to broaden and strengthen UCB’s role in addressing the unmet needs of epilepsy patients by adding Fintepla to its current product portfolio.
With the acquisition, Zogenix became a wholly owned subsidiary of UCB and will market Fintepla (fenfluramine) oral solution for the treatment of Dravet syndrome and other indications.
Fintepla, a prescription medication, is approved in the United States and Europe to treat seizures associated with Dravet syndrome in patients aged two years and older.
It is also being studied for the treatment of seizures associated with other rare epilepsies, such as Lennox-Gastaut syndrome (LGS) and cyclin-dependent kinase-like 5 (CDKL5) deficiency disorder.
UCB Neurology executive vice-president and Europe/International Markets head Charl van Zyl said: “We are very pleased to reach today’s milestone at the earliest opportunity and to welcome the Zogenix team to the UCB family.
“Together, we will bring Fintepla (fenfluramine) oral solution to many more people around the world living with Dravet syndrome and soon, we hope, additional indications as well.”
UCB intends to revise its financial guidance in the second quarter of this year and expects the Zogenix acquisition to immediately increase revenue this year.
Meanwhile, UCB has announced the construction of a new innovative facility in Wallonia, Belgium, focused on gene therapy process development and clinical manufacturing.
The new facility will be BREEAM (Building Research Establishment Environmental Assessment Method) certified, furthering UCB’s goal of achieving carbon neutrality by reducing resource consumption and waste production. The 17,0000-square-foot facility is scheduled to open in 2024.
The advancement of gene therapy fuels a shift in disease treatment, focusing on disease modification rather than symptom relief.
The new facility will support UCB’s gene therapy research projects by providing end-to-end process and analytical development, clinical manufacturing, quality control, scalability, and speed.
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