The brief

Analyst view

• Paid $650M upfront, plus up to $500M in milestones, for Neurona; the deal closed on 2 June 2026.
• Rezanecel cut disabling seizures by a median 89% at low dose; the Phase 3 start has slipped to H1 2027.
• Revenue was EUR 7.7B in 2025, from over 9,000 staff in about 40 countries.

Technical approach

As reported

Heritage

Three decades of seizure drugs

UCB sells anti-seizure pills such as Keppra, Vimpat and Briviact. Pills dampen symptoms, but many patients keep having seizures despite taking them.

Cells

Replacing missing brake cells

With Neurona, UCB moves from pills to living cells: inhibitory neurons grown from stem cells and placed where seizures start, to restore the brain's brakes.

One dose

Aiming to modify the disease

The goal is one procedure that lasts for years, instead of daily drugs or surgery that removes brain tissue.