Alexion and Zealand Pharma Announce Collaboration to Discover and Develop Peptide Therapies for Complement-Mediated Diseases
20 March 2019 - 10:00PM
Business Wire
- Collaboration furthers Alexion’s complement
leadership with expansion into peptide therapies -
- Agreement provides Alexion with exclusive
worldwide licenses for one preclinical target, with option for up
to three additional targets, in the complement pathway -
- Zealand Pharma to receive upfront payment of
$25 million and equity investment of $15 million, with potential
for additional milestone-dependent and royalty payments -
- Collaboration further strengthens Zealand
Pharma’s position as a leading developer of next generation
peptide-based therapeutics -
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) and Zealand Pharma
A/S (NASDAQ:ZEAL) today announced a collaboration to discover and
develop novel peptide therapies for complement-mediated diseases.
Peptides offer a number of advantages, including being highly
selective and potent, allowing low dosage volumes for ease of
administration, and having the potential to treat a broad range of
complement-mediated diseases. The agreement provides Alexion with
exclusive worldwide licenses, as well as development and commercial
rights, for up to four targets within the complement pathway.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190320005266/en/
“We know that uncontrolled activation of the complement pathway
is responsible for many devastating diseases, and through the
development of the first two complement inhibitors – SOLIRIS and
ULTOMIRIS – we have shown the transformative impact of C5
inhibition on several of these diseases,” said John Orloff, M.D.,
Executive Vice President and Head of Research & Development at
Alexion. “We are excited by the potential to explore different
targets in the complement pathway and look forward to building on
Alexion’s more than 20 years of complement expertise with the
development of next-generation peptide therapies in collaboration
with Zealand Pharma, which may provide the opportunity to treat
many additional diseases.”
“Collaborating with Alexion is further evidence of the strength
of our peptide discovery platform, which has delivered both
approved novel peptide-based therapeutics and a deep late-stage
pipeline,” said Adam Steensberg, Interim CEO and Chief Medical and
Development Officer at Zealand. “We believe that peptide-based
therapies hold great promise in inhibiting complement activation.
Alexion’s demonstrated expertise in treating rare and
complement-mediated diseases makes this the ideal collaboration to
advance Zealand’s complement-focused peptide programs.”
Under the terms of the agreement, Alexion and Zealand will enter
into an exclusive collaboration for the discovery and development
of subcutaneously delivered peptide therapies directed to up to
four complement pathway targets. Zealand will lead the joint
discovery and research efforts through the preclinical stage, and
Alexion will lead development efforts beginning with IND filing and
Phase 1 studies. The agreement provides Alexion with exclusive
worldwide licenses and commercial rights to the peptide therapies
developed in the collaboration. Zealand will receive an immediate
upfront payment of $25 million for the first target, with Alexion
making a concurrent $15 million equity investment in Zealand Pharma
at a premium to the market price as of the collaboration effective
date. For the lead target, the agreement provides the potential for
development-related milestones of up to $115 million, as well as up
to $495 million in sales-related milestones and the potential for
high single- to low double-digit royalty payments. Each of the
three subsequent targets can be selected for an option fee of $15
million and has the potential for additional development milestones
and sales milestones and royalty payments at a reduced price to the
lead target.
Alexion will discuss the collaboration further during today’s
Investor Day event and webcast. Zealand will host a conference call
on Thursday, March 21, at 4 p.m. CET.
About AlexionAlexion is a global biopharmaceutical
company focused on serving patients and families affected by rare
diseases through the discovery, development and commercialization
of life-changing therapies. As the global leader in complement
biology and inhibition for more than 20 years, Alexion has
developed and commercializes two approved complement inhibitors to
treat patients with paroxysmal nocturnal hemoglobinuria (PNH) as
well as the first and only approved complement inhibitor to treat
atypical hemolytic uremic syndrome (aHUS) and anti-acetylcholine
receptor (AchR) antibody-positive generalized myasthenia gravis
(gMG), and is also developing it for patients with neuromyelitis
optica spectrum disorder (NMOSD). Alexion also has two highly
innovative enzyme replacement therapies for patients with
life-threatening and ultra-rare metabolic disorders,
hypophosphatasia (HPP) and lysosomal acid lipase deficiency
(LAL-D). In addition, the company is developing several
mid-to-late-stage therapies, including a second complement
inhibitor, a copper-binding agent for Wilson disease and an
anti-neonatal Fc receptor (FcRn) antibody for rare Immunoglobulin G
(IgG)-mediated diseases as well as several early-stage therapies,
including one for light chain (AL) amyloidosis and a second
anti-FcRn therapy. Alexion focuses its research efforts on novel
molecules and targets in the complement cascade and its development
efforts on the core therapeutic areas of hematology, nephrology,
neurology, and metabolic disorders. Alexion has been named to the
Forbes list of the World’s Most Innovative Companies seven years in
a row and is headquartered in Boston, Massachusetts’ Innovation
District. The company also has offices around the globe and serves
patients in more than 50 countries. This press release and further
information about Alexion can be found at: www.alexion.com.
[ALXN-G]
About Zealand PharmaZealand Pharma is a biotechnology
company focused on the discovery and development of innovative
peptide-based medicines. The company’s peptide discovery platform
is built on 20 years of experience and has been extensively
validated by their clinical pipeline, partnerships and marketed
products; these include more than 10 drug candidates invented by
Zealand that have advanced into clinical development, of which two
have reached the market. Zealand’s current pipeline of internal
product candidates focus on specialty gastrointestinal and
metabolic diseases. Zealand’s portfolio also includes two clinical
license collaborations with Boehringer Ingelheim. Zealand is based
in Copenhagen (Glostrup), Denmark. For further information about
the company's business and activities, please visit
www.zealandpharma.com.
Forward-Looking StatementThis press release includes
forward-looking statements. Such forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied in such
statements. Examples of forward-looking statements include, among
others, statements we make regarding: (i) the therapeutic and
commercial potential of peptide-based therapies; (ii) research and
development plans related to peptide-based therapies; (iii) the
potential of peptide-based therapies for the treatment of
complement-mediated diseases; (iv) the potential for the
collaboration between Alexion and Zealand; and (v) the closing of
the equity investment by Alexion into Zealand, which is subject to
standard closing conditions. The process by which early stage
products such as Zealand’s peptide-based therapies could
potentially lead to an approved product is long and subject to
highly significant risks, particularly with respect to a
preclinical research collaboration. Applicable risks and
uncertainties include those relating to preclinical research and
other risks identified under the heading "Risk Factors" included in
Alexion’s and Zealand’s most recent Form 10-K and 20-F filings and
in other future filings with the SEC. The forward-looking
statements contained in this press release reflect Alexion’s and
Zealand’s current views with respect to future events, and neither
Alexion nor Zealand undertakes and specifically disclaims any
obligation to update any forward-looking statements, except as
required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190320005266/en/
Alexion:MediaMegan Goulart, 857-338-8634Senior
Director, Corporate Communications
InvestorsSusan Altschuller, Ph.D., 857-338-8788Vice
President, Investor Relations
Zealand Pharma:Adam Steensberg, +45 5060 3601Interim CEO,
Chief Medical and Development Officer
Mats Blom, +45 3153 7973Chief Financial Officer
Alexion Pharmaceuticals (NASDAQ:ALXN)
Historical Stock Chart
From Apr 2024 to May 2024
Alexion Pharmaceuticals (NASDAQ:ALXN)
Historical Stock Chart
From May 2023 to May 2024