Gazumping REGENXBIO, Dimension accepts better offer from Ultragenyx

Rare disease specialist Ultragenyx Pharmaceutical has acquired all outstanding common stock of fellow Nasdaq-listed Dimension Therapeutics for about $151 million in cash.

The tender offer will be funded through Ultragenyx’s existing cash resources.

The Dimension board decided that “The Ultragenyx transaction represented a superior proposal” to a previously-agreed offer from REGENXBIO, which will receive a termination fee from the new buyer.

Ultragenyx chief executive Emil Kakkis said: “We look forward to leveraging our development and commercial skills in combination with Dimension’s gene therapy technology, programs and people.”