H. Lundbeck and Prexton Therapeutics have signed a definitive agreement in which Lundbeck will acquire Prexton. Under terms of the agreement, Lundbeck will pay €100 million upfront ($123 million) plus €805 million ($989 million) in development and sales milestones.
By acquiring Prexton, Lundbeck will obtain global rights for foliglurax, which currently is in clinical phase II testing for the symptomatic treatment of OFF-time reduction in Parkinson’s disease and dyskinesia (uncontrolled movements) including Levodopa Induced Dyskinesia (LID). First data from the ongoing clinical phase II program is expected to be available in mid-2019.
Foliglurax is a small molecule, which works by stimulating a specific glutamatergic target (mGluR4) that activates a compensatory neuronal system in the brain. Pre-clinical studies have demonstrated positive effects in models of Parkinson’s disease. The aim is to treat the motor symptoms of Parkinson’s disease, such as resting tremor and dyskinesia.
(Source: Prexton Therapeutics)