Sunstone Capital today announces that H. Lundbeck A/S (Lundbeck) will acquire Sunstone portfolio company Prexton Therapeutics BV (Prexton).
Prexton develops innovative drugs to improve the quality of life of people who suffer from Parkinson’s disease and other brain disorders. Prexton’s lead compound Foliglurax is currently in clinical phase II for symptomatic treatment of OFF-time reduction in Parkinson’s disease and dyskinesia (involuntary muscle movements). Prexton is located in Oss (the Netherlands) and Geneva (Switzerland).
Under the terms of the agreement Lundbeck will pay €100 million in cash upfront to Prexton’s current owners and is furthermore required to pay additional €805 million in development, regulatory and sales milestones depending on successful outcome of certain undisclosed milestones.