In a continued push to be a leader in rare diseases, AstraZeneca’s Alexion will acquire Massachusetts-based LogicBio Therapeutics.

Under the terms of the agreement, Alexion, AstraZeneca’s rare disease unit, will pay LogicBio $2.07 per share — which equates to a $68 million deal — for all outstanding shares in a deal that the companies are planning to close in four to six weeks. Continuing to bet on rare disease treatments, Alexion is hoping to leverage technology platforms created by LogicBio for the development of therapies that deliver and insert functional copies of genes to address genetic diseases.

LogicBio’s research commitments have focused on the creation of genetic medicine for pediatric patients with rare diseases. Just a few months ago, the company announced that the U.S. FDA had lifted its clinical hold on its phase 1/2 trials assessing LB-001 for the treatment of methylmalonic acidemia (MMA), a life-threatening disorder where the body cannot break down certain proteins and fats. LB-001 is intended to be a single-administration treatment.

AstraZeneca Rare Disease unit was created following the acquisition of Alexion Pharmaceuticals in 2021. The $39 billion takeover, which was unveiled in late 2020, was the largest biopharma deal of the year. Recognizing the huge untapped potential of the surging orphan drug market, AstraZeneca has continued to snatch up rare disease drugmakers, acquiring Caelum Biosciences in Sept. 2021