Lundbeck to acquire Longboard Pharmaceuticals in strategic deal

Acquisition to enhance Lundbeck’s neuroscience pipeline

Lundbeck has announced a significant step forward in its Focused Innovator strategy with the acquisition of Longboard Pharmaceuticals.

This strategic deal, valued at approximately USD 2.6 billion, aims to enhance Lundbeck’s capabilities in treating neuro-rare conditions, particularly Developmental and Epileptic Encephalopathies (DEEs).

The acquisition includes Longboard’s lead asset, bexicaserin, which is in late-stage development for DEEs such as Dravet syndrome and Lennox-Gastaut syndrome.

Bexicaserin has shown promising anti-seizure effects in preclinical and clinical studies, thanks to its next-generation superagonist mechanism targeting 5-HT2C receptors. This mechanism supports bexicaserin’s potential to offer a highly differentiated and best-in-class profile.

Charl van Zyl, President and CEO of Lundbeck, stated: “This transformative transaction will become a cornerstone in Lundbeck’s neuro-rare franchise, with a potential to drive growth into the next decade. Bexicaserin addresses a critical unmet need for patients suffering from rare and severe epilepsies, for which there are very few good treatment options available. With this acquisition, we continue to execute on our Focused Innovator strategy, transforming the lives of patients suffering from severe brain disorders.”

The global phase 3 trial, DEEp SEA, evaluating bexicaserin for seizures associated with Dravet syndrome, was initiated in September 2024.

The transaction, funded through existing cash resources and bank financing, is expected to close in the fourth quarter of 2024, pending regulatory clearances and other customary conditions.

Lundbeck and Longboard’s boards have unanimously approved the transaction, which will see Longboard shareholders offered USD 60.00 per share in cash.

This acquisition is set to significantly bolster Lundbeck’s presence in the neuro-rare conditions market, aligning with its strategy to advance innovative treatments for severe brain disorders.