Regenxbio adds to metabolics franchise with acquisition
US biotech Regenxbio (Nasdaq: RGNX) has entered a definitive deal to acquire Dimension Therapeutics (Nasdaq: DMTX) in an all-stock transaction for an implied value of about $3.41 per share.
This values the transaction at around $86 million, and the offer price is nearly three times that of Dimension’s closing price of $1.20 ahead of the announcement, which caused the company’s shares to skyrocket 160% as an instant reaction. The boards of directors of both companies have unanimously approved the transaction.
On completion of the acquisition, Regenxbio will add two lead product candidates to its pipeline:
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