Nightstar Therapeutics to be acquired by Biogen for $877mn

By Bobby Clevenger

Massachusetts-based multinational biotechnology company Biogen announced today that it has entered into an agreement with Nightstar Therapeutics, a clinical-stage gene therapy company based in London. The deal will see Biogen pay US$25 for each share of Nightstar, for a total transaction value of approximately $877mn.

Nightstar specializes in the design, testing and manufacture of gene therapies, which use artificially manipulated viruses in order to deliver genetic material into patients’ tissue, potentially treating or curing hereditary conditions. Nightstar’s research is focused on treatments in the field of Ophthalmology.

“Ophthalmology is an emerging growth area for Biogen,” said Michel Vounatsos, Biogen’s chief executive officer. “Nightstar would accelerate our entry into ophthalmology by contributing two mid- to late-stage gene therapy assets.”

SEE ALSO: 

David Fellows, Chief Executive Officer of Nightstar, said: “Our agreement with Biogen will give us the platform and resources to expand our mission to maintain and restore sight in patients with inherited retinal diseases. This transaction accelerates treatment to patients through Nightstar’s key retinal gene therapy programs that modify or halt progression of blindness. Together, with Biogen’s expertise in rare diseases, worldwide reach and extensive resources, we will dramatically improve the lives of patients around the world who currently have no treatment options. We are proud of what Nightstar has accomplished, and we thank our team for their tireless work to improve the lives of our patients and their families.”

The deal is expected to close in the second half of 2019.

Share
Share

Featured Articles

How SAP is facilitating continuous business transformation

Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software

Siemens and Microsoft: Driving cross-industry AI adoption

To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI

Sustainability must become central to corporate strategy

Sustainability must no longer be an after-thought, but a central component of corporate strategy and the decision-making process at boardroom level

The endless benefits of putting your people first

Leadership & Strategy

Working from anywhere: SAP uncovers secret life of employees

Human Capital

DHL, AbbVie and Hilton among best places to work in Europe

Human Capital