BY Fraser Tennant
In a transaction that could see it strengthen its position as a leading provider of treatments for rare blood disorders, US biopharmaceutical company Alexion Pharmaceuticals is to acquire fellow biopharma firm Achillion Pharmaceuticals for $930m.
The definitive agreement will see Alexion get its hands on Achillion’s two experimental treatments for the rare blood disorder, paroxysmal nocturnal hemoglobinuria (PNH). Alexion has dominated the market for some years with its flagship drug Soliris.
“Alexion has demonstrated the transformative impact that inhibiting C5 can have on multiple rare and devastating diseases,” said Ludwig Hantson, chief executive of Alexion. “However, we believe this is just the beginning of what’s possible with complement inhibition. Targeting a different part of the complement system – the alternative pathway – by inhibiting Factor D production addresses uncontrolled complement activation further upstream in the complement cascade, and importantly, leaves the rest of the complement system intact, which is critical in maintaining the body’s ability to fight infection.”
Alexion’s acquisition of Achillion is subject to the approval of Achillion shareholders and satisfaction of customary closing conditions and approval from relevant regulatory agencies, including clearance under the Hart-Scott Rodino Antitrust Improvements Act.
“We have established great momentum – discovering and advancing several small molecules into clinical development that have the potential to treat immune-related diseases associated with the alternative pathway of the complement system,” said Joe Truitt, president and chief executive of Achillion. “Having already demonstrated proof-of-concept and proof-of-mechanism with our lead candidate, danicopan (ACH-4471), in PNH and C3G, respectively, we believe there is significant opportunity for Factor D inhibition in the treatment of other diseases as well.
“Alexion is an established leader in developing medicines for complement-mediated diseases, and we look forward to working together to accelerate our objective of bringing novel therapies to patients as quickly as possible and ensuring that the broad promise of this approach is fully realised,” he continued. “We thank our employees, investigators and partners for their incredible work and commitment.”
Pending approvals, the transaction is expected to close in the first half of 2020.
News: Alexion fortifies rare blood disorder drugs business with Achillion deal