US-based Biogen Inc., (NASDAQ: BIIB) has announced that it has reached an agreement to fully acquire compatriot firm Reata Pharmaceuticals Inc., (NASDAQ: RETA) in a cash deal valued at USD 172.50 per share, totaling USD 7.3 billion. The acquisition is anticipated to be completed in the fourth quarter of 2023.
Reata Pharmaceuticals: Focus on Neurological Diseases and Cellular Metabolism
Reata Pharmaceuticals specializes in developing therapeutics that target cellular metabolism and inflammation, with a particular focus on neurological diseases. The company has already secured FDA approval for Skyclarys (omaveloxolone), the first and only treatment for Friedrich’s ataxia (FA), a progressive genetic condition affecting the nerves, impacting mobility, energy levels, sensation, speech, and ultimately leading to early death in those affected.
Biogen’s Strategic Alignment with Reata Pharmaceuticals
Biogen views the acquisition of Reata as a strategic fit, given its own expertise in neurology and rare diseases. Biogen’s portfolio includes Spinraza (nusinersen) for spinal muscular atrophy and the newly launched Qalsody (tofersen) for amyotrophic lateral sclerosis (ALS). The addition of Reata Pharmaceuticals is expected to bolster Biogen’s commitment to advancing treatments for neurological conditions and expanding its presence in the field of rare diseases.-Fineline Info & Tech
