Alexion to acquire Swedish pharma company Wilson Therapeutics for $855m
Pharma acquisition news : US-based Alexion Pharmaceuticals through an all-cash deal of SEK7.1 billion ($855 million) will acquire Wilson Therapeutics, a Swedish pharma company focused on developing drugs for rare copper-mediated disorders such as Wilson disease.
Alexion Acquisition of Wilson Therapeutics
Alexion Pharmaceuticals has offered to pay SEK232 ($27.84) for each share of the Swedish pharma company in a move to bolster its rare disease drug portfolio.
Wilson Therapeutics has a drug called WTX101 in its lineup which is being developed for Wilson disease treatment. Currently, the Wilson disease drug is in phase 3 stage
Wilson disease is a rare inherited disorder that can cause accumulation of excessive copper content in organs. Wilson disease patients face the risk of devastating hepatic and neurological consequences.
Wilson Therapeutics’ WTX101 is an oral copper-protein-biding agent. This potential Wilson disease drug has the ability to access and bind copper from the blood serum and promote its elimination from the liver.
Ludwig Hantson – CEO of Alexion Pharmaceuticals, commenting on Alexion acquisition of Wilson Therapeutics, said: “WTX101 is an innovative product that addresses the underlying cause of the disease and has the potential to define a new standard of care in treating Wilson disease, an area that has not had a new treatment in over two decades.
“The acquisition of Wilson Therapeutics is a strong strategic fit for Alexion given the overlap with our current clinical and commercial focus on metabolic and neurologic disorders, and is an important first step in rebuilding our clinical pipeline.”
WTX101 is supported by an FDA fast track designation along with an orphan drug designation from the US regulator and the EMA in the European Union.
Commenting on Alexion acquisition of Wilson Therapeutics, Jonas Hansson – CEO of Wilson Therapeutics, said: “Alexion is a global leader in rare diseases with a proven record of developing and commercializing therapies for patients with rare diseases, making them a great partner to make WTX101 available to Wilson disease patients worldwide.”
Alexion acquisition of Wilson Therapeutics, which will be subject to regulatory approvals along with other conditions, is anticipated to be wrapped up in Q2 2018.