Add-on Acquisition • Life Science

H. Lundbeck Acquires Longboard Pharmaceuticals

On October 14, 2024, H. Lundbeck acquired life science company Longboard Pharmaceuticals from HBM Partners for 2.6B USD

Acquisition Context
  • This is H. Lundbeck’s 6th transaction in the Life Science sector.
  • This is H. Lundbeck’s largest (disclosed) transaction.
  • This is H. Lundbeck’s 5th transaction in the United States.
  • This is H. Lundbeck’s 2nd transaction in California.

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M&A Deal Summary

Date October 14, 2024
Target Longboard Pharmaceuticals
Sector Life Science
Buyer(s) H. Lundbeck
Sellers(s) HBM Partners
Deal Type Add-on Acquisition
Deal Value 2.6B USD
Advisor(s) Evercore Group
Centerview Partners (Financial)
Cooley (Legal)

Target Company

Longboard Pharmaceuticals

La Jolla, California, United States
Longboard Pharmaceuticals is a clinical-stage biopharmaceutical company, focuses on developing medicines for neurological diseases. Its products include LP352, a Phase I clinical trial product for the developmental and epileptic encephalopathies (DEEs) and refractory epilepsies; LP143, a product for amyotrophic lateral sclerosis and other neuroinflammatory disorders; and LP659, a product for multiple neuroinflammatory disorders. Longboard Pharmaceuticals was founded in 2020 and is based in La Jolla, California.
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Buyer Overview 1

Buyer

H. Lundbeck

Valby, Denmark

Category Company
Founded 1915
Sector Healthcare Services
Employees5,700
Revenue 22.0B DKK (2024)
DESCRIPTION

H. Lundbeck is an international pharmaceutical company engaged inthe research and development, production, marketing and sale of pharmaceuticals for the treatment of psychiatric and neurological disorders. H. Lundbeck was founded in 1915 and is based in Valby, Denmark.


Deal Context for Buyer #
Overall 6 of 6
Sector: Life Science 6 of 6
Type: Add-on Acquisition 5 of 5
State: California 2 of 2
Country: United States 5 of 5
Year: 2024 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-16 Alder Biopharmaceuticals

Bothell, Washington, United States

Alder Biopharmaceuticals, Inc. is a biopharmaceutical company focused on the development of novel antibodies that originate from its proprietary platform for the production of antibodies in picchia. Alder Biopharmaceuticals was formed in 2002 and is based in Bothell, Washington.

Buy $2.0B

Seller Profile 1

SELLER

HBM Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 2.1B USD
Size Large
Type Sector Focused
DESCRIPTION

HBM Partners is a private investment firm focused on investing in entrepreneurial biopharma and other healthcare-related companies in Europe, North America, India and other Emerging Markets. HBM looks to invest $5 to $50 million per transaction and will consider private and public companies. HBM Partners was established in 2001 and is headquartered in Zug, Switzerland.


Deal Context for Seller #
Overall 36 of 40
Sector: Life Science 32 of 35
Type: Add-on Acquisition 6 of 7
State: California 9 of 9
Country: United States 27 of 27
Year: 2024 3 of 4
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-14 Gynesonics

Redwood City, California, United States

Gynesonics is a medical device company, develops minimally invasive therapeutic device to treat uterine fibroids in women. Gynesonics was founded in 2005 and is based in Redwood City, California.

Sell $350M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-18 Sai Life

Hyderabad, India

Sai Life is an integrated provider of drug discovery, development, and manufacturing solutions for innovator pharmaceutical and biotechnology companies. The company’s ongoing commitment to quality, thorough approach, and state-of-the-art research and manufacturing facilities enable its highly skilled team of professionals to provide its clients with competitive advantages such as shorter time to market and risk minimization. Sai Life was founded in 1999 and is based in Hyderabad, Telangana.

Sell -