Regenxbio bags one of its gene therapy vector partners, buying out a struggling Dimension
Gene therapy player Regenxbio $RGNX has struck a deal to buy the struggling Dimension Therapeutics $DMTX after a setback in the clinic earlier this year brutally hammered the biotech’s market cap down to only $30 million.
Regenxbio has agreed to buy out Dimension for $3.41 a share, all in stock and close to three times yesterday’s $1.20 close. The deal values the company at about $86 million, just a fraction of what it was worth two years ago when Dimension priced its IPO shares at $13. In return, Regenxbio gets a slate of new programs for its own pipeline which it is already intimately familiar with, as they use its delivery vector under one of a lineup of licensing deals the company set up as gene therapy began to take off a few years ago.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
