Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), a a global biopharmaceutical company, is to acquire Syntimmune, a Boston, Mass.-based clinical-stage biotechnology company developing antibody therapeutics targeting the neonatal Fc receptor (FcRn), for an upfront payment of $400m, with the potential for additional milestone-dependent payments of up to $800m, for a total value of up to $1.2 billion.
The acquisition is subject to the satisfaction of customary closing conditions, including approval from relevant regulatory agencies. Pending these approvals, the transaction is expected to close in the fourth quarter of 2018.
Founded in 2013 by Richard Blumberg, M.D., and Laurence Blumberg, M.D., Syntimmune is a clinical-stage biotechnology company developing differentiated drug candidates in a wide range of autoimmune diseases.
Drawing on research of its scientific founders, the company is advancing novel therapies based on its deep expertise in the biology of the neonatal Fc receptor (FcRn) and its complex role in the pathogenesis of IgG-mediated autoimmune diseases.
Its lead candidate, SYNT001, is a monoclonal antibody that specifically blocks FcRn-IgG interactions and is being studied in multiple Phase 1b/2a trials for the treatment of IgG-mediated autoimmune diseases.
Syntimmune has raised $78m in private financing from lead investor Apple Tree Partners, with participation from additional investors Partners Innovation Fund, FMB Research and AFB Fund.
According to Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion, “The acquisition of Syntimmune represents a critical step in rebuilding Alexion’s pipeline and further diversifying the company’s clinical-stage rare disease portfolio. It offers a strong strategic fit with Alexion’s existing rare disease franchises and provides the opportunity to transform patient care in diseases like warm autoimmune hemolytic anemia, where SYNT001 is the first, and currently the only, anti-FcRn therapy in clinical development.”