Human boast a ton of traits that are worth all the attention, and yet none deserve more recognition than our tendency to get better on a continuous basis. This tendency, in particular, has already allowed us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such a notable presence in our lives is largely down to its unique skill-set, which introduced us to a reality that we could have never imagined otherwise. However, the whole runner, if we are being honest, was also inspired by the way we applied those skills in a real-world setting. The latter component was, in fact, what gave the creation a spectrum-wide presence, including a well-timed appearance on our healthcare block. Technology’s foray into healthcare was so perfect in regards to the timing, as it came right when the sector was beginning to struggle against its own obsolete structure. Fortunately enough, the reality went through a complete overhaul under the new regime, but even after achieving so much, the medtech idea will somehow keep on producing the right goods. The same has turned more and more evident over the recent past, and a new acquisition should only make that trend stronger moving forward.
Pharmaceutical giant, AstraZeneca has officially struck an agreement to acquire pioneering clinical-stage genomic medicine company, LogicBio Therapeutics, for a sum of $68 million. According to certain reports, AstraZeneca will pay around $2.07 for each of the LogicBio’s shares, a figure that translates to 666% premium on the original value, but it could all be worthwhile. You see, this move gives the company uninterrupted access of a unique gene editing approach, which is centered on using natural DNA repair mechanism to precisely insert a gene. Not just the approach alone, the acquisition will allow AstraZeneca to have complete control over LogicBio’s leading drug candidate, LB-001. LB-001 is a therapeutic designed to treat methylmalonic acidemia (MMA), a rare inherited disorder that leads to developmental delays and other complications that require hospitalization. The drug is currently in Phase 1/2 testing, but mind you, its journey till here was far from seamless. To contextualize the statement, we must go back to February 2022 when FDA imposed a hold on the stated trial. The hold came after the company reported a second patient in the study developed thrombotic microangiopathy, a blood vessel complication that has been associated with other genetic therapies delivered by adeno-associated viruses. LogicBio, to its credit, was able to get the hold lifted, and it did so by changing the trial protocol to increase patient monitoring.
Beyond these regulatory struggles, LogicBio has also, as of late, been pitted against some serious financial issues. The stated issues reached a crescendo when the company was sent a formal delisting notice from the exchange for failing to maintain a minimum $1 price despite having a 180-day grace period to regain compliance with the requirement. Nevertheless, even with all the financial uncertainty, LogicBio’s pharmaceutical prowess remains on an upwards trend, and that’s really what convinced AstraZeneca to make the multi-million dollar bet.
“The proposed acquisition of LogicBio is a significant development for our growing research in genomic medicine,” said Marc Dunoyer, Chief Executive Officer, Alexion, AstraZeneca’s rare disease unit. “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.”
