Lund­beck bags a PhII Parkin­son's drug with $1.1B Prex­ton buy­out deal

Six years af­ter a team of glu­ta­mate re­cep­tor spe­cial­ists spun out of the wreck­age left be­hind by Mer­ck KGaA’s re­treat from Gene­va and launched Prex­ton Ther­a­peu­tics, Lund­beck is swoop­ing in to buy the com­pa­ny and its mid-stage Parkin­son’s drug. Lund­beck is hand­ing over $123 mil­lion and com­mit­ting to about a bil­lion dol­lars more in mile­stones — with more than half of that tied to sales goals.

Lund­beck is spend­ing its mon­ey on a sin­gle as­set: foliglu­rax.

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