Alexion Pharmaceuticals to acquire Syntimmune for $1.2bn to boost rare disease drug pipeline

In a significant move within the pharmaceutical industry, Alexion Pharmaceuticals, a leading global biopharma company, has announced its acquisition of Syntimmune, a Boston-based clinical-stage biotech firm. The deal, valued at approximately $1.2 billion, marks a strategic expansion for Alexion as it looks to bolster its portfolio of treatments for rare diseases.

Under the terms of the acquisition, Alexion will pay $400 million upfront to Syntimmune, with additional milestone-based payments potentially reaching up to $800 million. This deal represents a major investment in the development of innovative therapies targeting autoimmune diseases.

Alexion’s strategic acquisition aims to enhance its rare disease portfolio

Syntimmune is renowned for its development of antibody therapeutics targeting the neonatal Fc receptor (FcRn), which plays a crucial role in various rare IgG-mediated diseases. The firm’s lead drug, SYNT001, is a humanized monoclonal antibody designed to inhibit the interaction between FcRn and Immunoglobulin G (IgG) immune complexes. This mechanism aims to improve treatment outcomes for patients suffering from diseases where IgG plays a significant role.

Ludwig Hantson, CEO of Alexion Pharmaceuticals, highlighted the strategic importance of this acquisition, stating, “Targeting FcRn holds great promise in transforming the treatment of IgG-mediated diseases. SYNT001 has demonstrated proof of mechanism in early clinical studies, showing the potential to treat a number of rare IgG-mediated diseases.” He further noted that this acquisition is a key step in rejuvenating Alexion’s drug pipeline and enhancing its portfolio in rare diseases.

Expert opinions on the acquisition

Seth Harrison, Chairman of Syntimmune and Managing Partner of Apple Tree Partners, echoed this sentiment, commenting, “Since Syntimmune’s inception in 2013, our focus has been on developing transformative therapies for autoimmune diseases. The promise of SYNT001 in treating various IgG-mediated autoimmune diseases is substantial, and Alexion’s expertise in rare diseases provides a robust foundation for advancing this therapy.”

SYNT001 is currently in Phase 1b/2a clinical trials for warm autoimmune hemolytic anemia (WAIHA) and pemphigus vulgaris (PV) or pemphigus foliaceus (PF). Early results have demonstrated the drug’s ability to rapidly reduce IgG levels, supporting its potential efficacy in these conditions.

The path ahead for Alexion and Syntimmune

The acquisition is subject to customary closing conditions, including necessary regulatory approvals. If completed as anticipated, the deal is expected to be finalised by the fourth quarter of 2018. This strategic acquisition positions Alexion Pharmaceuticals to enhance its capabilities and offerings in the rare disease space, potentially transforming patient care for those with difficult-to-treat autoimmune conditions.