UCB reinforces epilepsy leadership with acquisition

Belgium’s largest drugmaker UCB (Euronext Brussels: UCB) today announced the acquisition of Engage Therapeutics, a New Jersey, USA-based clinical-stage pharmaceutical company developing Staccato alprazolam for the rapid termination of an active epileptic seizure.

The transaction value is a total potential of up to $ 270 million, made up of an initial $125 million in cash (subject to certain adjustments) and up to $145 million in further potential milestone payments related to clinical development, submission and launch of Staccato alprazolam. This acquisition does not impact UCB’s 2020 financial outlook, the firm stated.

Charl van Zyl, executive vice president UCB and head of neurology. said: “Like UCB, Engage is a company with a deep-seated passion in epilepsy. Several of Engage’s founders and leaders have personal connections to epilepsy and have been active in the epilepsy community for quite some time. Staccato alprazolam is an excellent strategic fit with our patient value growth strategy in epilepsy. It offers a potential solution for acute, on-demand treatment of a seizure, an unmet need for up to 30% of all epileptic patients, and strengthens our current epilepsy portfolio by adding this late-stage asset.”