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

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Upskilling for the digital world isn’t complicated but it is urgent, argues Tom Moore, CEO of WithYouWithMe – a social impact tech firm founded by veterans

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology

Deloitte US Chief Purpose Officer on driving impact at scale

Leadership & Strategy