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AstraZeneca to buy rare-disease specialist Caelum in potential $500 million deal By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: AstraZeneca’s logo can be seen outside of its North America headquarters at Wilmington, Delaware (U.S.A), March 22, 2021. REUTERS/Rachel Wisniewski/File Photo

(Reuters) -AstraZeneca will take full control of Caelum Biosciences in a deal worth up to $500 million, the drugmaker said on Wednesday, as it sharpens focus on rare-disease drugs following its purchase of Alexion Pharmaceuticals (NASDAQ:).

Alexion owned a minority share in Caelum Biosciences, New Jersey (NASDAQ:), before being acquired by AstraZeneca ($39 billion) earlier in the year.

Anglo-Swedish pharmaceutical company will spend $150 million on Caelum to purchase the remainder of its stake. It could also receive milestone payments up to $350 millions.

AstraZeneca stated that the purchase would allow Caelum to accelerate its late-stage trials of its drug candidate, which will treat AL Amyloidosis. It is a rare, serious, and potentially fatal disease.

U.S. health regulators gave the treatment in June a speedy status. The aim of this therapy is to enhance organ function.

Alexion CEO Marc Dunoyer announced that there was a need to find new treatment options for the devastating disease, stating in a statement.

According to AstraZeneca, the disease affects approximately 20,000 people in the United States, France and Germany as well as Spain, Italy, Spain, Spain, Spain, Britain, and other countries.

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