Lundbeck to buy Parkinson's drug developer in potential $1.1 billion deal

COPENHAGEN (Reuters) - Danish drugmaker Lundbeck said on Friday it had agreed to buy Prexton Therapeutics, which has drug candidate foliglurax in phase II testing for treatment of Parkinson’s disease.

Lundbeck will make an upfront payment of 100 million euros($123 million) and the deal terms also include up to 805 million euros in development, regulatory and sales milestones.

Prexton was founded in 2012 by Francois Conquet and M Ventures, the corporate venture arm of Merck KGaA, Lundbeck said in a statement.

($1 = 0.8112 euros)