Sarepta Therapeutics Acquires Myonexus Therapeutics For $165 Million

(RTTNews) - Sarepta Therapeutics Inc. (SRPT), Wednesday said it has exercised its option to acquire Myonexus Therapeutics, a clinical-stage biotechnology company developing transformative gene therapies for $165 million.

In May 2018, Sarepta and Myonexus entered into an exclusive partnership to develop Myonexus' five LGMD gene therapy candidates, which target the most severe and common forms of the disease. As part of the agreement, Sarepta had an exclusive option to acquire Myonexus.

Myonexus develops transformative gene therapies for five Limb-Girdle Muscular Dystrophy (LGMDs): LGMD2E, LGMD2D, LGMD2B, LGMD2C and LGMD2L.

LGMDs represent a group of distinct genetic neuromuscular diseases with a generally common set of symptoms, including progressive, debilitating weakness and wasting that begins in muscles around the hips and shoulders before progressing to muscles in the arms and legs.