AstraZeneca PLC (LSE:AZN) said its Alexion arm exercised an option to buy all remaining equity in Caelum Biosciences to gain control of CAEL-101, a potential treatment for light chain (AL) amyloidosis.
AL amyloidosis is a rare disease in which abnormal proteins build up in organs throughout the body, including the heart and kidneys, causing significant organ damage and failure that can cause death.
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Around 20,000 people across the US, France, Germany, Italy, Spain and the UK live with AL amyloidosis classified as Mayo stage IIIa or IIIb disease.
CAEL-101 is at the last stage of clinical trials, evaluated in combination with standard-of-care, with two parallel studies ongoing.
Alexion first bought a minority stake in 2019 and is now exercising the option to acquire the rest for US$150mln, plus extra payments of up to US$350mln based on milestones.
"With a median survival time of less than 18 months following diagnosis, there is an urgent need for new treatments for this devastating disease,” Alexion’s chief executive Marc Dunoyer said.
“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."