Danish pharma giant buys San Diego company’s epilepsy drug for $2.6B

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La Jolla-based Longboard Pharmaceuticals has developed a drug for rare forms of epilepsy

Lundbeck headquarters in Valby, Denmark. The global pharmaceutical company will acquire La Jolla-based Longboard Pharmaceuticals for $2.6 billion. Lundbeck, a global drugmaker based in Denmark, has agreed to buy La Jolla-based Longboard Pharmaceuticals for $2.6 billion to gain access to its novel epilepsy drug.

Longboard’s lead drug candidate, bexicaserin, is an oral medication that could potentially treat seizures associated with rare forms of epileptic disorders. The novel drug is a superagonist — which is a chemical that binds to certain cell receptors and blocks a response from the body — targeting 5-HT2C receptors.

Bexicaserin is currently undergoing a global phase three clinical trial and is expected to launch at the end of 2028, according to the company. Lundbeck is projecting global sales potential for the drug at $1.5 billion to $2 billion. “This transformative transaction will become a cornerstone in Lundbeck’s neuro-rare franchise, with a potential to drive growth into the next decade,” said Charl van Zyl, president and CEO of Lundbeck. “Bexicaserin addresses a critical unmet need for patients suffering from rare and severe epilepsies, for which there are very few good treatment options available.”The local company’s stock closed Friday at $38.90 per share and spiked 51 percent on the news. It closed Monday at $58.

 

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