UCB agreed to acquire Neurona Therapeutics in a transaction valued at up to $1.15 billion, adding epilepsy-focused assets to its neuroscience pipeline. The deal includes $650 million upfront with additional milestone payments tied to development and commercialization progress. Neurona’s lead candidate, NRTX-1001, is the core of the acquisition and is designed for epilepsy. The announcement further reflects how large biopharma are expanding beyond core franchises to refill pipelines in neurodegenerative and neuropsychiatric categories. The pricing and structure also signal continued willingness for billion-dollar neuro bids in 2026, particularly when programs show clear single-indication focus and plausible development paths.