Biogen is buying London-based gene therapy company Nightstar Therapeutics for $800 million in an all-cash deal. They are offering $22.50 per share, a premium of about 69% to Nightstar's value.
“Ophthalmology is an emerging growth area for Biogen,” said Michel Vounatsos, Biogen’s chief executive officer. “Nightstar would accelerate our entry into ophthalmology by contributing two mid- to late-stage gene therapy assets.” Biogen said it plans to fund the acquisition through available cash.