LogicBio To Be Bought By Alexion, AstraZeneca Rare Disease

(RTTNews) - LogicBio Therapeutics, Inc. (LOGC), a company focused on gene delivery and editing platforms to treat rare diseases, said on Monday that it has inked a deal to be acquired by Alexion, AstraZeneca Rare Disease

Alexion, through a subsidiary, will start a cash tender offer to acquire all shares of LogicBiofor $2.07 per share.

Alexion, AstraZeneca Rare Disease, is a group within AstraZeneca focused on rare diseases. The proposed acquisition is expected to support Alexion, AstraZeneca Rare Disease's growth in genomic medicines.

Alexion plans to close the deal in four to six weeks. Boards of both the companies have approved the deal.

Marc Dunoyer, CEO of Alexion, AstraZeneca Rare Disease, said: "…LogicBio's people, experience and platforms provide new scientific capabilities by adding best-in-class technology and expertise to our genomic medicine strategy. The scientific collaboration between Alexion and AstraZeneca has been a substantial area of focus since last year's acquisition and the addition of LogicBio will expand this foundational work."