- LogicBio ( NASDAQ: LOGC ) gained ~648% pre-market Monday after Alexion, a unit of AstraZeneca ( AZN ) announced an agreement to acquire the U.S.-based genetic medicine company for $2.07 per share in cash.
- The Lexington, MA company boasts a genome editing platform, and an adeno-associated virus (AAV)-based gene delivery platform.
- "The proposed acquisition of LogicBio is a significant development for our growing research in genomic medicine,” remarked Marc Dunoyer, Chief Executive of Alexion, U.S.-based rare disease focused company that AZN acquired in 2021.
- Per the terms, an Alexion subsidiary will start a tender offer to acquire all outstanding shares of LOGC. Boards of both companies have approved the transaction which is expected to close in 4 – 6 weeks.
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LogicBio jumps 648% on buyout deal with AstraZeneca unit Alexion