UCB Acquires Neurona Therapeutics and Its Drug Candidate Rezanecel for Mesial Epilepsy
UCB announced on Tuesday the complete acquisition of Neurona Therapeutics and its drug candidate Rezanecel, a Phase I/II treatment for drug-resistant mesial temporal lobe epilepsy. Valued at up to $1.15 billion, this deal marks the group's entry into regenerative and cellular therapies.
UCB finalized the acquisition of Neurona Therapeutics on Tuesday for a total amount that could reach $1.15 billion. The transaction includes an initial payment of $650 million complemented by up to $500 million in future payments contingent on milestone achievements. Rezanecel, Neurona's flagship asset, is currently in Phase I/II trials for the treatment of drug-resistant mesial temporal lobe epilepsy, a severe form of the disease characterized by resistance to existing antiepileptic drugs.
This acquisition is part of UCB's strategy to expand into innovative therapies that go beyond mere symptomatic management. The group thus strengthens its position in the field of epilepsy, an area where it has over thirty years of expertise.
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UCB has confirmed its financial outlook for 2026 despite this major acquisition. Revenue is expected to grow by 'high single digit to low double digit' percentages at constant exchange rates. Underlying profitability, measured by adjusted EBITDA, is projected to grow by 'high single digit to mid-teens' percentages at the same exchange rates.
The group, which generated €7.7 billion in revenue in 2025, employs more than 9,000 staff across approximately 40 countries. It remains listed on Euronext Brussels under the symbol UCB.
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 4 270 millions d'euros
Quarterly revenue: 4 270 millions d'euros
Revenue growth: 22,5 %
EBITDA: 1 685 millions d'euros
EBITDA margin: 40,7 %
Net income: 1 111 millions d'euros
2 821 millions d'euros
Guidance from the release
Based on the continued strong growth, revenue is expected to grow in the low-teens to mid-teens percentage range; Reflecting our strong execution and confidence in the outlook
Risks mentioned
Perte d'exclusivité de BRIVIACT aux États-Unis depuis février 2026 et en Europe attendue en août 2026
Ventes de VIMPAT au Japon affectées par l'arrivée de génériques fin 2025
Expiration en 2026 de la protection brevetaire de CIMZIA au Japon
Opportunities identified
Objectif de ventes maximales de BIMZELX relevé à au moins 7 milliards d'euros
Supériorité de BIMZELX sur risankizumab dans le rhumatisme psoriasique (étude BE BOLD)
FINTEPLA déposé dans le syndrome CDKL5 auprès de la FDA et de l'EMA, Phase 3 lancée dans le syndrome de Rett
Outlook / guidance
Management commentary: revenue is expected to grow in the low-teens to mid-teens percentage range at constant exchange rates (CER). Adjusted EBITDA² is expected to grow in the mid-teens to low-twenties percentage range at CER. Excluding other operating one-offs in 2025, adjusted EBITDA² growth is expected to be in the mid-twenties to low-thirties percentage range at CER.
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.