Smyrna-based company in $150 million deal for epilepsy drug
UCB, a quiet, pharmaceutical company with its U.S. headquarters in Smyrna has announced a $150 million deal to buy an epilepsy drug.
UCB, which already produces a number of drugs aimed at epilepsy, will buy the drug from Proximagen, which is part of a Minnesota-based company.
The drug is a treatment for "acute repetitive seizures" among patients who have epilepsy. That type of seizure affects nearly one-quarter of those with epilepsy, and can be life-threatening, the company said.
UCB estimates that more than 150,000 people with epilepsy also suffer from ARS.
The company said that there is a treatment previously approved by the Food and Drug Administration, but the success rate is less than 40 percent.
About 400 of UCB's 7,500 employees are in the Atlanta area, including those responsible for research and development. The company has operations in 40 countries, about $5 billion in revenues and Belgian owners, but it has U.S. headquarters in Smyrna, according to a spokeswoman for the company.
The company also has a site at Georgia Tech, she said.
UCB has a pipeline of medications for the treatment of epilepsy and already considers itself a leader in the field. The drug being purchased from Proximagen is known as USL2612. It has been granted "orphan drug designation" by the FDA, which permits a faster process of approval because the agency believes there is an unmet need for the treatment.
About the Author
Michael E. Kanell, the AJC's economics writer, has been reporting on jobs, housing and the economy at the AJC for nearly two decades. He has appeared on television and radio to analyze and report on business and economic developments.
