UCB Acquires Engage To Boost Epilepsy Franchise
Paying $125m Upfront
The Belgian drugmaker is getting hold of a device that delivers an inhaled formulation of the anxiety drug alprazolam which can rapidly terminate an epileptic seizure 30 seconds after it has begun.
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The Brussels-based company has leant on its local knowledge to snap up Leuven-headquartered biotech Handl and its proprietary AAV capsid technology platform.
During Q2 biopharmas reached $5.9bn in merger and acquisition value and drew in $44bn in potential deal value from alliances. Device company M&A values reached $159m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.4bn.
Pharma pays $100m up front and makes $20m equity investment for rights to three preclinical cancer programs. Plus more than 20 deal summaries, including COVID-19-related transactions.