Ataxion, Luc Therapeutics deal

Ataxion will merge with Luc; the newco will retain Luc's name and focus on precision medicine for neurological and psychiatric diseases. Its pipeline includes programs to treat ataxia, schizophrenia and depression, which is being developed under a deal with Novartis AG (NYSE:NVS; SIX:NOVN, Basel, Switzerland). Saniona AB (SSE:SANION, Ballerup, Denmark), which spun out Ataxion, will hold a 7.1% stake in the company. Saniona will also retain royalty rights for products to treat ataxia. Ataxion acquired the ataxia program from Saniona in 2013. The merger also terminates a 2014 deal granting Biogen Inc. (NASDAQ:BIIB, Cambridge, Mass.) the option to acquire Ataxion (see BioCentury, March 24, 2014)...