Biogen buys Nightstar Therapeutics

Biogen said Monday it will buy Nightstar Therapeutics, a clinical-stage gene therapy company based in London, United Kingdom, which is focused on adeno-associated virus (AAV) treatments for inherited retinal disorders.

As revealed int he press release, Biogen will pay $25.50 in cash for each NST share, totalling near $800 million on a fully diluted basis, after taking into account expected transaction expenses and anticipated cash at closing.

Michel Vounatsos, Biogen’s Chief Executive Officer, said that ophthalmology is an emerging growth area for Biogen, and that working with people from Nightstar will help advance potentially transformative gene therapy programs for rare retinal diseases.

“With this proposed acquisition, we are continuing to bolster our pipeline and further execute on our strategy to develop and expand a multi-franchise neuroscience pipeline across complementary modalities. Nightstar would accelerate our entry into ophthalmology by contributing
two mid- to late-stage gene therapy assets, with the potential to create long-term shareholder value.”

Commenting on the Acquisition, 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.”