What Longboard Pharmaceuticals does

Longboard Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing oral, centrally acting small molecules that are highly selective for specific G protein-coupled receptors (GPCRs) to treat neurological and rare diseases. Founded in January 2020 by Arena Pharmaceuticals, the company was formed to advance a portfolio of candidates built on Arena's 20+ year GPCR research platform, which is responsible for 50–60% of all druggable targets in the body and roughly 40% of marketed prescription drugs. Its lead asset, bexicaserin (LP352), is a next-generation 5-hydroxytryptamine 2C (5-HT2C) receptor superagonist with no detected activity at 5-HT2B or 5-HT2A subtypes, designed to modulate GABA and suppress the central hyperexcitability that drives drug-resistant seizures associated with developmental and epileptic encephalopathies (DEEs), including Dravet syndrome, Lennox-Gastaut syndrome (LGS), tuberous sclerosis complex (TSC), and CDKL5 deficiency disorder (CDD). The FDA granted bexicaserin Breakthrough Therapy Designation in Q2 2024 following positive Phase 1b/2a PACIFIC Study data.

Longboard operated a research-led, pre-commercial business model with no approved products, no product revenue, and no disclosed pricing. Capital formation was equity-driven, anchored by a $150 million public offering in January 2024 to fund the global Phase 3 DEEp Program. Its go-to-market approach centered on clinical-trial execution and regulatory engagement, supported by an unusually broad network of 17 patient advocacy and research partnerships (DEE-P Connections, LGS Foundation, Dravet Syndrome Foundation, SCN8A Alliance, TSC Alliance, CDKL5 Foundation, Rare Epilepsy Network, Combined Brain, Epilepsy Consortium, UCB, and others). The addressable market — DEEs across 7 major markets — was estimated at USD 2.2 billion in 2025, projected to grow at 11.7% CAGR through 2036, with approximately 284,000 total cases and the United States accounting for roughly 59% of the global opportunity.

On December 2, 2024, H. Lundbeck A/S completed its $2.5 billion acquisition of Longboard, transitioning the company from a NASDAQ-listed entity (ticker LBPH) to a wholly owned subsidiary of the Danish neuropsychiatry and neuro-rare specialist. At the time of the acquisition, Longboard operated from La Jolla, California with 51–100 employees and a leadership team drawn heavily from Arena Pharmaceuticals (including CEO Kevin Lind, General Counsel Steven Spector, and Chairman Paul Sekhri).

Name

Longboard Pharmaceuticals

Legal name

Longboard Pharmaceuticals, Inc.

Website

https://longboardpharma.com

Company type

Public

Founded year

2020

Operating status

Acquired

Headcount range

51–100 employees

Short description

Longboard Pharmaceuticals is a clinical-stage biopharmaceutical company developing oral 5-HT2C receptor superagonists such as bexicaserin (LP352) for seizures in developmental and epileptic encephalopathies (Dravet, LGS, TSC, CDKL5). Acquired by Lundbeck for $2.5B in December 2024.

Ownership category

akta.pro rank

Product category

Central Nervous System Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)

akta.pro secondary industry

Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF)

Keywords

• Rare neurological diseases
• Epilepsy therapeutics
• GPCR drug development
• Clinical-stage biopharmaceuticals
• Developmental encephalopathies

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Drug Development and Commercialization: Pre-revenue clinical-stage biopharmaceutical company focused on developing novel neurological medicines. Revenue potential exists upon regulatory approval and commercialization of bexicaserin and other pipeline candidates. The company was acquired by Lundbeck in December 2024 for $2.5 billion.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Longboard Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel, transformative medicines for neurological diseases with an initial focus on rare diseases. Its lead product candidate is bexicaserin (LP352), an oral, centrally acting, next-generation 5-HT2C receptor superagonist designed to treat seizures associated with developmental and epileptic encephalopathies (DEEs), including Dravet syndrome, Lennox-Gastaut syndrome, tuberous sclerosis complex, and CDKL5 deficiency disorder. The pipeline leverages a world-class GPCR selectivity platform representing more than 20 years of research and optimization inherited from Arena Pharmaceuticals.

Product overview

Longboard Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel, transformative medicines for neurological diseases, with an initial focus on rare diseases. The company was formed in January 2020 by Arena Pharmaceuticals to advance a portfolio of centrally-acting product candidates designed to be highly selective for specific G protein-coupled receptors (GPCRs). The company's primary product candidate is bexicaserin (LP352), an oral 5-HT2C receptor superagonist in development for the potential treatment of seizures associated with Developmental and Epileptic Encephalopathies (DEEs) including Dravet syndrome, Lennox-Gastaut syndrome (LGS), tuberous sclerosis complex (TSC), and CDKL5 deficiency disorder (CDD). The company leverages over 20 years of GPCR research from Arena Pharmaceuticals to develop next-generation GPCR-targeted medicines.

Differentiator

Problem solved

Functional benefit

Products and services

• Bexicaserin (LP352) Bexicaserin (LP352) is an oral, centrally acting, next-generation 5-hydroxytryptamine 2C (5-HT2C) receptor superagonist designed for the potential treatment of seizures associated with Developmental and Epileptic Encephalopathies (DEEs) including Dravet syndrome, Lennox-Gastaut syndrome, tuberous sclerosis complex, and CDKL5 deficiency disorder. The molecule has no detected activity at the 5-HT2B and 5-HT2A receptor subtypes and is designed to modulate GABA and suppress central hyperexcitability characteristic of seizures. Bexicaserin received FDA Breakthrough Therapy Designation in Q2 2024.

Quantifiable outcome

• Positive Phase 1b/2a PACIFIC study results demonstrated seizure reductions in participants with DEEs aged 12-65
• +2 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

18 partnerships are on record, tiered core and minor.

• LundbeckcoreStrategic or Co-development Partner · 13 April 2024H. Lundbeck A/S acquired Longboard Pharmaceuticals for $2.5 billion on December 2, 2024. The acquisition was completed following positive Phase II data for bexicaserin. Longboard is now a wholly owned subsidiary of Lundbeck, a Danish pharmaceutical company focused on neuropsychiatry, neuro specialty, and neuro rare diseases.
• DEE-P ConnectionsminorStrategic or Co-development PartnerPatient advocacy partnership to optimize design of PACIFIC study and increase study awareness in the DEE community.
• SCN8A AllianceminorStrategic or Co-development PartnerPatient advocacy partnership to support DEE research and community awareness.
• LGS Foundation (Lennox-Gastaut Syndrome)minorStrategic or Co-development PartnerPatient advocacy partnership for Lennox-Gastaut syndrome awareness and research collaboration.
• Dravet Syndrome FoundationminorStrategic or Co-development PartnerPatient advocacy partnership supporting Dravet syndrome research and community engagement.
• Families SCN2A FoundationminorStrategic or Co-development PartnerPatient advocacy partnership for SCN2A-related epilepsy research.
• Dup15q AllianceminorStrategic or Co-development PartnerPatient advocacy partnership for Dup15q syndrome awareness and research.
• Epilepsy FoundationminorStrategic or Co-development PartnerPatient advocacy partnership for epilepsy awareness and research.
• TSC Alliance (Tuberous Sclerosis Complex)minorStrategic or Co-development PartnerPatient advocacy partnership for tuberous sclerosis complex research.
• CDKL5 FoundationminorStrategic or Co-development PartnerPatient advocacy partnership for CDKL5 deficiency disorder research.
• Rare Epilepsy Network (REN)minorStrategic or Co-development PartnerPatient advocacy partnership supporting rare epilepsy network initiatives.
• Hope for HIEminorStrategic or Co-development PartnerPatient advocacy partnership for hypoxic ischemic encephalopathy awareness.
• SYNGAP Research FundminorStrategic or Co-development PartnerPatient advocacy partnership for SYNGAP-related epilepsy research.
• KCNT1 Epilepsy FoundationminorStrategic or Co-development PartnerPatient advocacy partnership for KCNT1-related epilepsy research.
• Hope4HarperminorStrategic or Co-development PartnerPatient advocacy partnership supporting epilepsy research.
• Combined BrainminorStrategic or Co-development PartnerPatient advocacy partnership supporting rare epilepsy research consortium.
• Epilepsy ConsortiumminorStrategic or Co-development PartnerResearch partnership to optimize clinical study design and advance DEE research.
• Arena Pharmaceuticals (acquired by Pfizer)coreTechnology or IntegrationLongboard was formed in January 2020 by Arena Pharmaceuticals to advance a portfolio of centrally-acting product candidates discovered from Arena's world-class GPCR research platform representing more than 20 years of drug development and optimization.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• UCB: Global biopharma that acquired Zogenix and its approved Fintepla (fenfluramine) for Dravet and LGS — the most directly overlapping approved DEE therapy. UCB is a broad incumbent whose commercial neurology footprint dwarfs Longboard's pre-launch scale.
• BioMarin Pharmaceutical: Established rare-disease biopharma with a neurology pipeline and proven orphan drug commercialization capabilities. Comparable in rare-disease commercialization expertise and CNS therapeutic area, though broader and more diversified than Longboard.
• H. Lundbeck A/S: Danish neuro-specialty pharma that acquired Longboard for $2.5B in December 2024. Lundbeck's neuro rare disease portfolio and global commercial infrastructure directly aligns with bexicaserin's DEE opportunity, making it the most relevant incumbent now housing the platform.
• Jazz Pharmaceuticals: Global biopharma that acquired GW Pharmaceuticals and markets Epidiolex (cannabidiol), approved for seizures associated with Dravet, LGS, and TSC — overlapping indications with bexicaserin's DEE focus and established commercial infrastructure in the same physician call points.
• Takeda Pharmaceutical: Global biopharma with a rare disease and CNS focus; partnered with Ovid on soticlestat for DEEs and previously acquired Shire's rare-disease portfolio. Indirect incumbent in the DEE commercial landscape with overlapping prescriber base.

Direct peers

• Ovid Therapeutics: Clinical-stage biopharma focused on rare neurological and epilepsies (soticlestat in partnership with Takeda for DEEs). Similar therapeutic area, clinical-stage development focus, and rare neurology commercial strategy.
• Stoke Therapeutics: Clinical-stage biotech developing antisense oligonucleotides (zorevunersen) for Dravet syndrome and other SCN1A-related DEEs. Directly comparable in indication (Dravet), patient advocacy focus, and clinical-stage development approach targeting seizure reduction in DEEs.
• Marinus Pharmaceuticals: Clinical-stage biopharma developing ZTALMY (ganaxolone) for CDKL5 deficiency disorder and other DEEs — the most direct US competitor to bexicaserin in rare pediatric epilepsies, with an overlapping physician audience and similar regulatory pathway (orphan, Breakthrough Designation precedent).
• Praxis Precision Medicines: Clinical-stage biopharma developing therapies (relutrigine) for SCN2A/SCN8A-related DEEs and other rare epilepsies. Closely comparable to Longboard in indication focus, small-molecule CNS mechanism, and target DEE patient advocacy engagement.

Emerging players

• Encoded Therapeutics: Emerging clinical-stage biotech developing gene therapies (ETX101) for SCN1A-related Dravet syndrome. Overlapping indication (Dravet) and rare-epilepsy patient population, but differentiated by gene therapy modality versus Longboard's small-molecule approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/longboardp
• LinkedInlinkedin.com/company/longboard-pharma

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds3 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Longboard Pharmaceuticals