Biogen completed its acquisition of Knightstar

Biogen announced that it had completed the acquisition of Sycona's Nightstar Therapeutics, a clinical-stage gene therapy company focused on the treatment of adeno-related viruses (AAVs) for hereditary retinal diseases.announced the acquisition in March, with an estimated value of about $25.50 per share in cash, or $800 million, making Biogen a clinical consumable for ophthalmology candidates.estimated to be $800 million, taking into account expected transaction costs and cash at the close. Nightstar's common stock will no longer be traded on nasdaq's Global Select Market.acquisition, Biogen has now added two medium to late clinical assets and preclinical projects to its ophthalmology portfolio.Nighstar's main asset is NSR-REP1, a rare degenerative X-series hereditary retinal disease that causes blindness and unsanctioned treatment. This is the second clinical project of NST to treat X-series retinal pigment degeneration (XLRP), a rare genetic retinal disease that mainly affects men with unapproved treatments.the acquisition marked a "significant achievement for Biogen," chief executive Michel Vounatsos said.he continued, "The acquisition of Knightstar further strengthens our pipeline and is an important step towards achieving our goal of a multi-franchise portfolio that spans complementary models." Now we look forward to working as a Biogen team with the goal of providing patients with breakthrough therapies to slow or prevent blindness from a range of hereditary retinal diseases. (Compiled by this web)