subslover
2 years ago
Alexion, AstraZeneca Rare Disease to Acquire LogicBio® Therapeutics to Accelerate Growth in Genomic Medicine
October 03 2022 - 07:15AM
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LogicBio acquisition to build on current collaborations and advancements in genomic medicine
Alexion, AstraZeneca Rare Disease, today announced that it has entered a definitive agreement to acquire Lexington, Mass.-based LogicBio® Therapeutics, Inc. (NASDAQ: LOGC), a pioneering genomic medicine company. The proposed acquisition aims to rapidly accelerate Alexion’s growth in genomic medicines through LogicBio’s unique technology, experienced rare disease R&D team, and expertise in pre-clinical development.
"The proposed acquisition of LogicBio is a significant development for our growing research in genomic medicine,” said Marc Dunoyer, Chief Executive Officer, Alexion, AstraZeneca Rare Disease. “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.”
LogicBio has developed technology platforms for the delivery and insertion of genes to address genetic diseases, as well as a platform designed to improve viral vector manufacturing processes. These platforms, coupled with LogicBio’s highly experienced team and Alexion’s advancements with AstraZeneca, will drive future scientific possibilities and next generation medicines to treat rare genetic diseases.
Fred Chereau, President and Chief Executive Officer, LogicBio, said: “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. 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.”
Under the terms of the agreement, Alexion, through a subsidiary, will initiate a cash tender offer to acquire all outstanding shares of LogicBio for $2.07 per share. Both boards have unanimously approved the transaction. Alexion plans to close the deal in four to six weeks, subject to the tender of at least a majority of the outstanding shares of LogicBio common stock and satisfaction of other closing conditions, and plans to retain LogicBio employees at their current location.
Notes
About LogicBio Therapeutics
LogicBio® Therapeutics is a clinical-stage genetic medicine company pioneering genome editing and gene delivery platforms to address rare and serious diseases from infancy through adulthood. LogicBio's genome editing platform, GeneRide®, is a new approach to precise gene insertion harnessing a cell's natural DNA repair process potentially leading to durable therapeutic protein expression levels. LogicBio's gene delivery platform, sAAVy™, is an adeno-associated virus (AAV) capsid engineering platform designed to optimize gene delivery for treatments in a broad range of indications and tissues. LogicBio's proprietary manufacturing process, mAAVRx™, aims to overcome one of the current limitations of AAV manufacturing by improving yields and product quality. LogicBio is based in Lexington, MA. For more information, visit www.logicbio.com, which does not form a part of this release.
About Alexion
Alexion, AstraZeneca Rare Disease, is the group within AstraZeneca focused on rare diseases, created following the 2021 acquisition of Alexion Pharmaceuticals, Inc. As a leader in rare diseases for nearly 30 years, Alexion is focused on serving patients and families affected by rare diseases and devastating conditions through the discovery, development and commercialization of life-changing medicines. Alexion focuses its research efforts on novel molecules and targets in the complement cascade and its development efforts on haematology, nephrology, neurology, metabolic disorders, cardiology and ophthalmology. Headquartered in Boston, Massachusetts, Alexion has offices around the globe and serves patients in more than 50 countries.
About AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company that focuses o
INFINITI
2 years ago
JMP Securities Logicbio Therapeutics’ Stock is Going to Recover
Source: TipRanks
In a report released today, Silvan Tuerkcan from JMP Securities maintained a Buy rating on Logicbio Therapeutics (LOGC – Research Report), with a price target of $3.00. The company's shares closed last Monday at $0.67, close to its 52-week low of $0.39. According to TipRanks.com, Tuerkcan has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.6% and a 26.7% success rate. Tuerkcan covers the Healthcare sector, focusing on stocks such as Turning Point Therapeutics, Crispr Therapeutics AG, and Taysha Gene Therapies. Logicbio Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $2.50, implying a 197.
https://www.tipranks.com/news/blurbs/jmp-securities-thinks-logicbio-therapeutics-stock-is-going-to-recover?utm_source=advfn.com&utm_medium=referral
INFINITI
2 years ago
LogicBio Therapeutics Announces FDA Lifts Clinical Hold on SUNRISE Trial in Pediatric Patients with Methylmalonic Acidemia
Source: PR Newswire (US)
–Company initiates activities to resume dosing
–Interim clinical data from Phase 1/2 trial expected to be presented by end of second quarter 2022
LEXINGTON, Mass., May 9, 2022 /PRNewswire/ -- LogicBio® Therapeutics, Inc. (Nasdaq: LOGC), a clinical-stage company advancing a diversified pipeline of genetic medicines addressing rare disorders from infancy through adulthood, today announced that the U.S. Food and Drug Administration (FDA) has lifted the clinical hold on the company's LB-001 Investigational New Drug Application (IND), allowing patient enrollment to resume in the Phase 1/2 SUNRISE trial for pediatric patients with methylmalonic acidemia. In its letter, the FDA acknowledged that the company satisfactorily addressed all clinical hold issues. The company has initiated activities to resume dosing as soon as possible.
"We are pleased that the FDA has completed its review of the information we provided and that the hold on our LB-001 IND has been lifted," said Frederic Chereau, president and chief executive officer of LogicBio. "We look forward to dosing the next patient in our SUNRISE trial, which we expect will occur in the third quarter of 2022."
As previously disclosed, the FDA placed the IND for LB-001 on clinical hold following the occurrence of two serious adverse events, categorized as cases of thrombotic microangiopathy (TMA), in the company's SUNRISE trial. Both cases of TMA resolved within weeks.
In connection with the lifting of the clinical hold, LogicBio amended the SUNRISE protocol in a manner that reflected its dialogue with the FDA. LogicBio expects to proceed with dosing after it implements the changes to the SUNRISE protocol, which include enhanced monitoring measures, such as frequent testing for complement activation, a characteristic
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