Scandinavia Serves Up Two Partners For Alexion, In Its Rare Disease Sweet-Spot
Leading US biotech Alexion is to collaborate with two European biotechs, Affibody and Zealand, on early-stage products for rare diseases, involving bivalent antibody-mimetic scaffolds and novel peptides.
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The company agreed to pay $930m up front to acquire Achillion, which has two drugs in Phase II development for complement alternative pathway-mediated rare diseases.
The Danish group is beefing up its operations across the Atlantic as it prepares filings for dasiglucagon and glepaglutide.
First quarter biopharma financing, at $17.96bn, demonstrated a 65% increase over Q4 2018. The $92bn in total M&A activity was led by Bristol-Myers Squibb's $74bn buy of top-tier public biotech Celgene. At $39.4bn in total potential deal value, alliance dealmaking started off 2019 strong, with most of the top partnerships in modalities outside the recently popular areas of immune checkpoint inhibitors or CAR-T therapies.