U.S. Biogen to acquire UK’s Nightstar Therapeutics for about $800 mln

03/04/2019 2:31:00 PM (GMT)

U.S. biotechnology company Biogen Inc. plans to acquire British clinical-stage gene therapy company Nightstar Therapeutics PLC for around $800 million in cash.

Biogen’s offer of $25.50 per share represents a premium of 68 percent to Nightstar’s Friday close of $15.16.

Biogen said that Nightstar Therapeutics will advance the company’s entry into ophthalmology by contributing two mid- to late-stage gene therapy assets.

Biogen noted that it intends to finance the transaction through available cash.

Biogen Inc.

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