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Alexion’s acquisition of LogicBio is designed to accelerate the company’s growth in genomic medicines.
Alexion, a group within AstraZeneca focused on rare diseases, recently announced a definitive agreement to acquire LogicBio Therapeutics, a genomic medicines company. The deal, which is expected to close in November 2022, will see Alexion purchase all outstanding shares of LogicBio for $2.07 per share; a total sum was not disclosed.
According to a press release from Oct. 3, 2022, the intent of the acquisition is to grow Alexion’s genomic medicines through LogicBio’s technology as well as that company’s experienced rare disease R&D team and expertise in preclinical development. LogicBio has developed various technology platforms for the delivery and insertion of genes to address genetic diseases. The company has also designed a platform to improve the viral vector manufacturing process.
"The proposed acquisition of LogicBio is a significant development for our growing research in genomic medicine,” said Marc Dunoyer, CEO, Alexion, in the release. “LogicBio’s people, experience, and platforms provide new scientific capabilities by adding best-in-class technology and expertise to our genomic medicine strategy. The scientific collaboration between Alexion and AstraZeneca has been a substantial area of focus since last year’s acquisition and the addition of LogicBio will expand this foundational work.”
“We are excited about the opportunity to bring our science and expertise in genetic medicine to Alexion, which shares our commitment to discovering treatments for rare conditions and improving the lives of patients,” said Fred Chereau, president and CEO, LogicBio, in the release. Through this acquisition, we strive to accelerate our research in gene editing and AAV capsid development and together move the field of genomic medicine forward.”