UCB has agreed to acquire Neurona Therapeutics for up to $1.15 billion, positioning the epilepsy specialist’s lead asset NRTX-1001 as a core addition to UCB’s neurology growth strategy. The deal includes $650 million up front and milestone payments thereafter. The acquisition follows a busy period of large-scale neuro M&A, with multiple billion-dollar buyouts in 2026 reflecting intensified competition for late-stage and differentiated neurology assets. UCB’s move reinforces the push to scale discovery and clinical development across epilepsy and related central nervous system indications. For investors, the transaction also signals that neuro assets with clear biological rationale and measurable clinical readouts remain a target for premium valuation, especially as big pharma looks beyond traditional internal discovery productivity.