AstraZeneca to Buy Caelum Biosciences, Expands Rare Diseases Portfolio
AstraZeneca’s rare-diseases subsidiary Alexion has announced that it will acquire Caelum Biosciences, which nets the company a potentially first-in-class monoclonal antibody for the treatment of the rare disease light-chain (AL) amyloidosis.
AstraZeneca said in a statement that it will continue the phase 3 trial of CAEL-101, which got Fast-Track status from the FDA in June.
AL amyloidosis is a rare disease in which misfolded amyloid proteins build up in organs throughout the body, including the heart and kidneys, causing significant organ damage and failure that may ultimately be fatal.
Alexion, which AstraZeneca bought for $39 billion earlier this year, will pay $150 million to buy the remaining stake in Caelum it does not already own and make future payments of up to $350 million, depending on milestones. The deal, said AstraZeneca, is worth up to $500 million.