The Middletown Press (Middletown, CT)
Alexion completes deal to acquire privately held biotech
Alexion Pharmaceuticals, the bio-pharmaceutical company that was headquartered in New Haven until earlier this year, has completed its acquisition of a Bostonbased drugmaker.
The deal to acquire Syntimmune closed on Friday, according to Alexion officials. The $1.2 billion deal was announced in late September.
Syntimmune is a privately held biotechnology company that has been focused on developing treatments for autoimmune diseases since its launch in 2013. Alexion is a bio-pharmaceutical firm focused on developing drugs to treat people with rare diseases.
Ludwig Hantson, Alexion’s chief executive officer, said the deal gives the company an opportunity to rebuild its drug pipeline.
“The acquisition of Syntimmune is another critical step in continuing to expand and diversify our portfolio,” Hantson said in a statement released Friday. “We are rapidly advancing the current development programs and look forward to beginning two pivotal programs next year, including one in warm autoimmune hemolytic anemia.”
Warm autoimmune hemolytic anemia is the most common form of autoimmune hemolytic anemia, according to the National Institutes of Health. It is defined by the presence of autoantibodies that attach to and destroy red blood cells at temperatures equal to or greater than normal body temperature.
Symptoms of the disease include fatigue, difficulty breathing, jaundice and dark urine. In severe cases of the disease, fever, chest pain, syncope or heart failure may occur, according to the NIH.
The deal to acquire Syntimmune called for an up front payment of $400 million, with the potential for additional payments of up to $800 million iof certain milestone are met.
Alexion officials announced in September 2017 that the company was relocating its headquarters to Boston’s Seaport District and taking 400 jobs with it. The relocation was completed in July and left the company’s former headquarters building at 100 College St. with about 450 workers, many of whom work in research and development.