Biogen to wholly acquire gene therapy firm Nightstar Therapeutics

Nightstar’s agreement with Biogen will give the company the platform and resources it needs to expand its mission to restore sight in patients with inherited retinal diseases.

Biogen, the U.S. based biotechnology company and Nightstar Therapeutics, a clinical-stage gene therapy firm that is enganed in treatment development for rare retinal diseases recently announced that they have finalized the terms of agreement through which Tungsten Bidco Limited, a wholly-owned subsidiary of Biogen will acquire Nightstar. The acquisition is to be implemented by a scheme of arrangement sanctioned by the UK Court under the U.K. Companies Act 2006.

Terms of the agreement evaluated all the current and future share capital of Nightstar to be around $877 million. Nightstar Shareholders are slated to received $25.50 in cash for each share of Nightstar.

David Fellows, CEO of Nightstar reportedly commented on the acquisition and said that Nightstar’s agreement with Biogen will give the company the platform and resources it needs to expand its mission to restore as well as maintain sight in patients who have inherited retinal diseases. The transaction apparently speeds up the Nightstar’s retinal gene therapy programs that are being developed to halt or modify the progress of blindness in patients with the aforementioned disease.

He added that along with the extensive resources, expertise and worldwide reach that Biogen offers in rare disease treatment development, Nightstar hopes to drastically improve the lives of patients across the globe who at present cannot access any treatment option. Fellows said that the team at Nightstar is proud of what the company has accomplished with its tireless work to improve the lives of patients.

Chris Hollowood, Chairman, Nightstar, has been reported to say that since Nightstar’s establishment in 2013, the company has made its place among the world leaders of retinal gene therapies. Nightstar has delivered two proof-of-concept programs and is building a world class organization. Hollowood added that he looks forward to witnessing the next growth phase of Nightstar's journey via Biogen's ownership as it works towards the fulfillment of its mission to deliver transformational treatments to patients.