Alexion Acquires Pfizer's Portfolio of Rare Disease Gene Therapies
Alexion, AstraZeneca Rare Disease, has entered an agreement to acquire a portfolio of preclinical rare disease gene therapies and enabling technologies from Pfizer. The deal is valued at up to $1 billion.
Alexion, AstraZeneca Rare Disease, announced a definitive agreement to purchase and license a portfolio of preclinical gene therapy programs and enabling technologies from Pfizer Inc. The transaction aims to accelerate the development of genomic medicines and is valued at up to $1 billion, plus tiered royalties on sales.
The acquired assets include novel adeno-associated virus (AAV) capsids, recognized for their effectiveness in delivering therapeutic gene cargos. This move builds on Alexion and AstraZeneca's existing capabilities in genomic medicine, which were recently bolstered by the acquisition of LogicBio. The company also intends to welcome talent from Pfizer associated with the portfolio.
Marc Dunoyer, CEO of Alexion, AstraZeneca Rare Disease, stated the agreement marks a significant step towards industry leadership in genomic medicine, which holds potential for transformative and curative treatments for debilitating diseases. The companies focus on developing enhanced platforms and technologies with broad therapeutic applications.
The transaction is expected to close in the third quarter of 2023, subject to closing conditions. Alexion seeks to develop new genetic therapies with improved safety and efficacy profiles to address the thousands of rare diseases, many of which are caused by genetic mutations.