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Ultragenyx To Acquire Dimension Therapeutics In Approx. $151 Mln Deal

Ultragenyx Pharmaceutical Inc. (RARE) and Dimension Therapeutics, Inc. (DMTX) announced a definitive merger agreement under which Ultragenyx will acquire all of the outstanding shares of common stock of Dimension for $6.00 per share, or approximately $151 million in cash, based on currently outstanding shares.

The definitive agreement between Ultragenyx and Dimension has been approved by the Boards of both companies, and follows the termination of the merger agreement between Dimension Therapeutics and REGENXBIO Inc. (RGNX). Following discussions with both Ultragenyx and REGENXBIO, the Board of Dimension determined that the Ultragenyx transaction represented a superior proposal. Ultragenyx will pay REGENXBIO a termination fee pursuant to the REGENXBIO merger agreement, on behalf of Dimension.

Emil Kakkis, CEO of Ultragenyx, said, "The acquisition of Dimension provides a unique opportunity to approach treatment of more rare diseases and advance our development as a next-generation rare disease company. Specifically, we look forward to leveraging our development and commercial skills in combination with Dimension's gene therapy technology, programs and people to accelerate the process of expanding treatment options and bringing important new therapies to market for patients."

by RTT Staff Writer

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