Alexion, pharmaceutical company AstraZeneca’s rare disease subsidiary, has wholly acquired portfolio company Caelum Biosciences, US-based amyloidosis treatment developer, in a deal sized at up to $500m.
Alexion had previously bought a non-controlling stake in Caelum in January 2019 – before AstraZeneca agreed in December 2020 to purchase the former for $39bn – picking up an option to buy the rest of the Caelum down the line.
The corporate is now exercising the option at a price of $150m upfront, in addition to up to $350m in earn-out payments depending on the achievement of certain regulatory and commercial targets.
Through the acquisition, AstraZeneca will take full control of Caelum’s flagship product, CAEL-101, a monoclonal antibody treatment for AL amyloidosis, a protein-formation disorder that can lead to loss of organ function.
Alexion chief executive Marc Dunoyer said: “With a median survival time of less than 18 months following diagnosis, there is an urgent need for new treatments for this devastating disease.
“CAEL-101 has the potential to be the first therapy to target and remove amyloid deposits from organ tissues, improve organ function and, ultimately, lead to longer lives for these patients.”
