A flurry of press releases went out this morning by Dimension Therapeutics Inc
, Regenxbio Inc
, and Ultragenyx Pharmaceutical Inc
announcing the potential merger of Ultragenyx with Dimension.
Dimension Therapeutics is a company focused on developing gene therapies for rare metabolic conditions and was initially in talks to merge with Regnexbio, another gene therapy company. Those talks were interrupted when Ultragenyx made another offer to acquire Dimension and this morning Dimension announced it will be accepting Ultragenyx’s offer to purchase the company for $6.00 per share (approximately $151 million).
Ultragenyx stated that its scientific, clinical, regulatory, and commercial skills will help Dimension’s talented team accelerate the process of bringing important new therapies to market for patients with rare genetic diseases. Further, Ultragenyx believes their product line is highly complementary to Dimension’s.
Dimensions pipeline included a gene therapy in development for ornithine transcarbamylase (OTC) deficiency, glycogen storage disease type 1a (GSDIa),and hemophilia A.
Ultragenyx has numerous orphan drugs in its pipeline, including drugs to treat hypophosphatemia, tumor-induced osteomalacia, mucopolysaccharidosis 7 (Sly syndrome), and glucose transporter 1 deficiency. None of the treatment’s in Ultragenyx's current pipeline involve gene therapy. Further, much of Ultragenyx’s pipeline is in later stages of development and the acquisition of Dimension extends their pipeline to include more pre- and early-clinical studies.
While the deal is a good one for both companies, Regnexbio also benefits—they will be receiving a termination fee of $2,850,000 that Ultragenyx has agreed to pay on behalf of Dimension.
For the latest biotech news, follow Rare Disease Report