CHESHIRE, Conn.--(BUSINESS WIRE)--
Alexion Pharmaceuticals, Inc. announced that it has acquired Taligen
Therapeutics, Inc., a privately held development-stage biotechnology
company based in Cambridge, Mass. The acquisition broadens Alexion's
portfolio of product candidates and expands Alexion's capabilities in
translational medicine by bringing additional accomplished researchers
to the Company. Alexion gains promising pre-clinical compounds,
including potential treatments for patients with ophthalmic diseases
such as age-related macular degeneration (AMD), as well as other novel
antibody and protein regulators of the complement inflammatory pathways.
The acquisition was completed with an upfront cash payment of $111
million for 100 percent of Taligen's equity interests. Additional
contingent payments would be earned upon reaching various clinical
efficacy and product approval milestones in both the US and European
Union for up to six products.
"Taligen's talented scientists and impressive technology will enhance
Alexion's world-class staff and breakthrough research and development
programs, substantially increasing our ability to develop first-in-class
therapies for patients with severe diseases," said Leonard Bell, M.D.,
Chief Executive Officer of Alexion. "As product development
opportunities continue to expand, we look forward to increasing the
quality, speed, and throughput of our combined current and future
development programs for the benefit of patients worldwide."
Taligen's scientific staff will form the nucleus of Alexion's new
Cambridge Massachusetts-based Translational Medicine Group, headed by
Abbie Celniker, Ph.D., former CEO of Taligen and now Head of
Translational Medicine at Alexion. Dr. Celniker will report to Stephen
Squinto, Ph.D., Executive Vice President and Head of Research and
Development at Alexion. "Alexion has proven how highly innovative
science can result in life-transforming therapies for patients with
debilitating disorders," said Dr. Celniker. "We are excited to be
combining our research and development capabilities with Alexion's
global team with the goal of accelerating the investigation of novel
molecules from our combined portfolios and developing additional
first-in-class compounds."
"We are pleased that Alexion recognized the potential of Taligen's
innovative product pipeline and exceptional team. This transaction was
compelling to us because of Alexion's demonstrated ability to develop
and commercialize first-in-class medicines," said Dr. Nicholas
Galakatos, a director of Taligen and a Managing Director at Clarus
Ventures. "I, along with my colleagues at Alta Partners and Sanderling
Ventures are delighted to have participated in the success of Taligen
and look forward to the many future benefits that this combination will
offer to patients with severe disorders."
Alexion will provide 2011 financial guidance in February, including
transaction-related one-time expenses. Non-GAAP Research and Development
expenses for 2011 are expected to be approximately 18% of sales,
including activities associated with Taligen's programs.
About Alexion
Alexion Pharmaceuticals, Inc. is a biopharmaceutical company working to
develop and deliver life-changing drug therapies for patients with
serious and life-threatening medical conditions. Alexion is engaged in
the discovery, development and commercialization of therapeutic products
aimed at treating patients with a wide array of severe disease states,
including hematologic and kidney diseases, neurologic disorders,
transplant, other inflammatory disorders, and cancer. Soliris®
(eculizumab), Alexion's first marketed product, is approved in more than
35 countries as a therapy for patients with PNH, a debilitating and
ultra-rare life-threatening blood disorder. Alexion is evaluating other
potential indications for Soliris and is pursuing development of other
innovative biotechnology product candidates in early stages of
development. This press release and further information about Alexion
Pharmaceuticals, Inc. can be found at: www.alexionpharma.com.
[ALXN-G]
Safe Harbor Statement
This news release contains forward-looking statements, including
statements related to potential benefits from the acquisition of
Taligen, and its employees, technology and product candidates.
Forward-looking statements are subject to factors that may cause
Alexion's results and plans to differ from those expected, including for
example those risks set forth from time to time in Alexion's filings
with the Securities and Exchange Commission, including but not limited
to the risks discussed in Alexion's Quarterly Report on Form 10-Q for
the period ended September 30, 2010, and in Alexion's other filings with
the Securities and Exchange Commission. Alexion does not intend to
update any of these forward-looking statements to reflect events or
circumstances after the date hereof, except when a duty arises under law.
Alexion Pharmaceuticals, Inc.
Irving Adler, 203-271-8210
Senior
Director, Corporate Communications and Public Policy
or
Media:
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& Company
Mark Marmur, 609-354-8135
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Investors:
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Rhonda Chiger, 917-322-2569
Source: Alexion Pharmaceuticals, Inc.
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