AstraZeneca to acquire Caelum Biosciences in USD 500 million deal
Category: #headlines |   By Hrishikesh Kadam |   Date: 2021-09-30  | 
  • Share
  • Twitter
  • Facebook
  • LinkedIn

AstraZeneca to acquire Caelum Biosciences in USD 500 million deal

Pharmaceutical major AstraZeneca plc will reportedly acquire Caelum Biosciences in a potential USD 500 million deal to further expand its rare disease drug division.

The latest deal also gives the company access to a lucrative rare disease drug being developed by Caelum, which is currently in its late-stage trials. The drug has also received a ‘fast track’ status for regulatory review in the U.S.

As per reliable sources, the medicine aims to treat AL amyloidosis which causes significant organ damage and failure that can ultimately be fatal. Approximately, 20,000 people across six western countries are said to be affected by this rare disease.

The disease results in the formation of abnormal proteins called amyloids in human organs and disrupt their function. The drug being developed by Caelum is said to be a monoclonal antibody that will bind with amyloid deposits to decrease or eliminate them, thus enhancing organ function.

Following the acquisition, Caelum will become a part of the Alexion division in AstraZeneca. Notably, Alexion Pharmaceuticals, another company specializing in the development of drugs for rare diseases, was acquired by the pharma giant in a USD 39 billion deal earlier this year.

If reports are to be believed, Alexion will pay USD 150 million to acquire the remaining shares in Caelum. The subsidiary is also expected to make future payments of nearly USD 350 million, depending upon the success of projects.

Marc Dunoyer, CEO of Alexion was quoted saying that the median survival time for patients diagnosed with the disease is a meager 18 months. Therefore, developing effective treatments has become the need of the hour.

After acquiring Alexion, AstraZeneca has been facing several ups and downs in terms of rare disease drug development. The pharma giant recorded promising results during the trials of Wilson’s disease drug but had to abandon an amyotrophic lateral sclerosis drug trial after it did not show any efficacy.

Source credits-

https://finance.yahoo.com/finance/news/astrazeneca-buys-drugmaker-caelum-deal-063427322.html

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Hrishikesh Kadam    

Hrishikesh Kadam

A graduate in electronics and telecommunication engineering, Hrishikesh Kadam has always found writing fascinating. Driven by a never-ending passion for content creation combined with a bit of experience in writing personal blogs, Hrishikesh blends his technical knowl...

Read More

More News By Hrishikesh Kadam

Facebooks inks copyright agreement with French publishers’ lobby group
Facebooks inks copyright agreement with French publishers’ lobby group
By Hrishikesh Kadam

Facebook Inc. has reportedly inked a preliminary copyright agreement with a lobby group of French news publishers, which paves the way for the company to pay for promoting news content on its platform in the country. The licensing accord comes along...

Chinese phone-maker Xiaomi to produce its own electric cars in 2024
Chinese phone-maker Xiaomi to produce its own electric cars in 2024
By Hrishikesh Kadam

Xiaomi Corp., which is one of the world’s largest smartphone manufacturers, is reportedly planning to enter the automobile industry by launching its range of electric cars by 2024. While the company has already tested the waters in the automob...

Spotify planning to expand marketing staff to boost advertising sales
Spotify planning to expand marketing staff to boost advertising sales
By Hrishikesh Kadam

Audio streaming and media services provider Spotify is reportedly planning to hire more advertisement execs in order to increase its ad revenue, which now accounts only for a small portion of the streaming and podcasting company's overall revenue...