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This statement is made by the Independent Committee of the Board of Directors of Wilson Therapeutics AB (publ) (Wilson Therapeutics) (the Committee) pursuant to Rule II.19 of the Nasdaq Stockholm Takeover Rules (the Takeover Rules). Danicopan for PNH with extravascular hemolysis (EVH). The bid mostly empties the biotech's coffers, MacKay said. (Reuters) - Alexion Pharmaceuticals ALXN.O has agreed to buy Sweden's Wilson Therapeutics WTX.ST for 7.1 billion Swedish crowns ($855 million), boosting its line-up of rare disease drugs as a. Chip Powerhouse Revolutionizes AI As Yet Another Breakout Nears, Investing In The Future Of The Hydrogen Economy, Merck Nabs Prometheus Bio For $10.8 Billion As Keytruda Patent Expirations Loom, Trillions In Biotech Stock Gains Trace Back To This Financier, The Byzantine Adderall Shortage Puts Teva And Others In The Hot Seat, Teva Plots Its Knockoff Of Axsome's New Depression Drug, Sending The Biotech Sprawling, Stocks Showing Improving Market Leadership: Teva Pharmaceutical ADR Earns 86 RS Rating, Teva Guides To Its First Year Of Growth Since 2017 But Shares Tumbled On This Caveat, Stock Market Firms Up On Views For Smaller Rate Hike; These Obscure Stocks Lead, No. The Phase III results provide evidence that tissue-bound copper remains built-up in the organs even in patients who have been on SoC therapy for many years, and the potential for ALXN1840 to provide a new approach to mobilise and safely sequester copper from tissues.. AstraZeneca provides this link as a service to website visitors. 5/10/2023 Now we knew what we were up against, we knew we could fight.. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 1 IBD 50 Stock Catalyst Tanks As Teva Looks To Knock Off Its Only Product. Positive high-level results from the FoCus Phase III trial in Wilson disease showed ALXN1840 met the primary endpoint with a statistically significant improvement in daily mean copper mobilisation from tissues, demonstrating superiority compared with standard-of-care (SoC) treatments. Wilson Therapeutics is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker WTX. Valeant acquired it and Cuprimine in 2010. Alexion, through a wholly owned subsidiary, has offered SEK 232 in cash for each outstanding share of Wilson Therapeutics. It's also making a follow-up drug called ALXN1210. The cookie is used to store the user consent for the cookies in the category "Other. In Wilson disease patients, a genetic abnormality disrupts the biliary excretion pathway and excess copper accumulates in liver cells. You also have the option to opt-out of these cookies. The primary endpoint assessed copper mobilisation, defined as daily mean AUEC for directly measured dNCC over 48 weeks. No.556893-0357 Acoramidis is an investigational, oral, small molecule. Alexion to Acquire Wilson Therapeutics for $855M As of Dec. 31, the big biotech had $584 million in cash and cash equivalents and $890 million in marketable securities. The study's primary endpoint will be copper control from baseline to 48 weeks. The company has a drug candidate, WTX101, in Phase II development as a treatment for Wilson disease. The firm gained notoriety in 2015 when it raised the price to $21,267 from $652 just five years earlier. The cookie is used to store the user consent for the cookies in the category "Analytics". By using our website, you agree to our use of cookies in accordance with our, Alexion Offer for Wilson Therapeutics Accepted. We also use third-party cookies that help us analyze and understand how you use this website. AstraZeneca PLC. Data backs AZ's Wilson disease drug, but with a question mark "We think of this as a first step," Paul Clancey, Alexion'schief financial officer, said of the acquisition during an April 11 conference call. AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. The Independent Committee of the Board of Directors of Wilson Therapeutics has unanimously recommended Wilson Therapeutics shareholders accept the offer and Alexions Board of Directors also unanimously approved the offer. Clearly, Alexion sees opportunity in Wilson disease, and WTX101could help it seize on that. In fact, almost all of its R&D efforts are focused on ALXN1210 which is understandable, given that Solirisaccounts for 89% of Alexion'snet product sales and loses its U.S. composition of matter patent in a few years. The Committees recommendation By Mark Terry. Despite having a constant struggle with symptoms, Roberta revisited her dreams and put herself through nursing school. Roberts, E.A., Schilsky, M.L. Please refer to Alexions press release regarding the Offer for further information. . Together, on Rare Disease Day and every day we can make a powerful difference. 2022 Alexion Pharmaceuticals, Inc. https://globalgenes.org/rare-disease-facts/. The information in the press release is information that Wilson Therapeutics is obliged to make public pursuant to the EU Market Abuse Regulation. ALXN1840 has been granted Orphan Drug Designation in the US and EU for Wilson disease. Alexion Pharmaceuticals is a biopharmaceutical company, which is engaged in the discovery, development, and commercialization of biologic therapeutic products . These cookies track visitors across websites and collect information to provide customized ads. Gefurulimab is an investigational, anti-C5 albumin-binding humanized bispecific VHH antibody optimized for sub-cutaneous delivery. 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,said Ludwig Hantson, CEO of Alexion. Wilson Therapeutics is developing WTX101 (bis-choline tetrathiomolybdate), a first-in-class oral copper-protein binding agent designed to access and bind copper from serum and promote its removal from the liver. Before it gets to those next transactions, Alexionhas a large bill to pay. The condition isn't adequately treated by the current standard of care. Alexion inks $855M takeover of Wilson Therapeutics Wilson Therapeutics' lead product, Decuprate, is the proprietary bis-choline salt of tetrathiomolybdate. The work we do is guided by people living with rare and devastating diseases. WTX101 is also in a stronger position than the drug Kanuma, which Alexion acquired along with Synageva BioPharma in 2015. 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, said Jonas Hansson, CEO of Wilson Therapeutics. Alexionexpects to finance the new deal with cash. Our country sites can be located in the AZ Network. The Offer is not conditional upon financing. Pipeline | Alexion Please refer to Alexions press release regarding the Offer for more information about the Irrevocable Undertakings. The acquisition also could help Alexion compete with Valeant, which offers two highly priced treatments calledCuprimine and Syprine to treat Wilson disease. Consider the fact first that the study recruited 28 newly diagnosed patients with Wilson's disease. Alexion's drug meets primary goal in Phase III Wilson disease trial Kungsgatan 3 Alexion has made a recommended public cash offer to the shareholders in Wilson Therapeutics to acquire all outstanding shares in the company by way of a tender offer. These factors include, but are not limited to, Wilson Therapeutics present position, its expected future development and related opportunities and risks and share price evolution. Alexion shares opened at $112.47 apiece on Wednesday, down almost 1% from Tuesday's market close. Wilson Therapeutics is targeting Wilson disease with a late-stage drug called WTX101. Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20! Alexion Offer for Wilson Therapeutics Accepted NEW HAVEN, Conn.-- ( Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced that its offer, through a wholly owned subsidiary, for the. The proposed transaction highlights the shared commitment of the companies in addressing the significant unmet medical need in Wilson Disease with the continued focused development of this novel investigational first-in-class medicine, with the potential to advance treatment options for Wilson Disease patients and their caregivers. To the Independent Committee of the Board of Directors of, Wilson Therapeutics AB (publ) The trial enrolled 214 patients, including treatment-nave participants and those who have been on SoC therapy for an average of ten or more years. "The priority, in terms of capital allocation, is to rebuild the pipeline with an emphasis on the clinical-stage. Alexion said it has also obtained shareholder support agreements from the four largest shareholders accounting for 57.4% of Wilson Therapeutics outstanding shares and two additional shareholders accounting for 8.7% for a total of 66.1% of Wilson Therapeutics outstanding shares. AstraZeneca is not responsible for the privacy policy of any third party websites. Porges blamed Kanuma's lackluster sales for souring "investors on Alexion's business development acumen.". I consent to Verdict Media Limited collecting my details provided via this form in accordance with Privacy Policy. The current standard of care includes avoiding copper-containing foods and a therapy called copper chelation, which detoxifies a patient's blood. But opting out of some of these cookies may affect your browsing experience. Alexion is a global biopharmaceutical company focused on serving patients and families affected by rare diseases through the innovation, development, and commercialization of life-changing therapies. LINK Medical Research, based in Oslo, has acquired all shares in PCG Clinical Services, located in Uppsala. At Alexion, AstraZeneca Rare Disease, we are committed to working with the patient community and health care stakeholders worldwide to address the challenges facing the rare disease community. 5Weiss, K.H. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. | 2 p.m. 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, Alexion CEO Ludwig Hantson, Ph.D., said in a statement. Alexion, AstraZeneca Rare Disease, is the group within AstraZeneca focused on rare diseases, created following the 2021 acquisition of Alexion Pharmaceuticals, Inc. As a leader in rare diseases for nearly 30 years, Alexion is focused on serving patients and families affected by rare diseases and devastating conditions through the discovery, development and commercialisation of life-changing medicines. WTX101 has received Fast Track designation in the U.S. and Orphan Drug Designation for the treatment of Wilson disease in the U.S. and EU. LogicBio Therapeutics is a clinical-stage genetic medicine company pioneering genome editing and gene delivery platforms to address rare and serious diseases from infancy through adulthood. At only three months old, Evie's parents were told that her case was severe and that there were no approved or effective treatment options. Make a difference for families like Tristan's. ALXN Stock | News | ALEXION PHARMACEUTICALS Stock Price Today | Analyst Married with a newborn son, Ruthie was scared to learn that PNH was a life-threatening illness that at the time had no approved treatment. "As such, we anticipate this transaction could help add positive sentiment to the stock. a premium of 373 per cent compared to the Initial Public Offering (IPO) price of the Wilson Therapeutics share of SEK 49.00 on May 12, 2016. Wilson Therapeutics AB (publ) The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Published: Apr 11, 2018 PCG Clinical Services completes our span of offerings within clinical contract, The company in September agreed to an 8 billion USD takeover by Advent and Aurora, an investment vehicle of Singapores GIC Pte Ltd, through Agnafit Bidco. Alexion has in this respect communicated: Alexion places great value on Wilson Therapeutics management team and employees, and expects that the Offer will support further growth and create long term positive effects for Wilson Therapeutics and its employees and does not expect completion of the Offer to have any negative impact for Wilson Therapeutics organization, employees, including their terms of employment, or to the locations of Wilson Therapeutics operations.. Disputes arising from this statement shall be settled exclusively by Swedish courts. Annual General Meeting ALXN1840 is a potential new once-daily, oral medicine in development for the treatment of Wilson disease. According to Wilson Therapeutics, WTX101 differs from current treatments for Wilson disease by providing an alternative copper-protein transport mechanism, rapidly forming copper-protein complexes with very high specificity for copper, quickly de-toxifying free copper both in the liver and blood, and promoting biliary excretion of copper to reduce copper overload. Long-term outcomes of patients with Wilson disease in a large Austrian cohort.Clin Gastroenterol Hepatol12: 683-689. HealthCap VI LP, Abingworth Bioventures VI LP, MVM Fund III LP (including MVM Fund III (No. WTX101 has received the FDAs Fast Track designation, as well as orphan drug designations for the treatment of Wilson disease in the U.S. and European Union. However, you may visit "Cookie Settings" to provide a controlled consent. "This would also compete with some of Valeant's more controversially priced drugs," he said. The Connecticut-based company has just three programs in late-stage development, two of which are for its Soliris(eculizumab) follow-on,ALXN1210. For further information please contact: Andrew Kay, Chairman of the Board of Directors and of the Independent Committee, Wilson Therapeutics AB (publ), Phone: +44 7900 441144 Alexion TRENDING: Futures Edge Lower With Tesla In Focus. Headquartered in Boston, Massachusetts, Alexion has offices around the globe and serves patients in more than 50 countries. Having concluded this assessment, the Committee believes that the terms of the Offer substantially recognize Wilson Therapeutics growth prospects, as well as the risks associated with those prospects. The acquisition of Wilson Therapeutics is a key first step in rebuilding our pipeline, said Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion. View all newsletters from across the GlobalData Media network. Diagnosis and treatment of Wilson disease: An update. Alexion Joins The Biotech M&A Bonanza (NASDAQ:ALXN) The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". (2013) J Clin Exp Hepatol, 3, 321-336. This cookie is set by GDPR Cookie Consent plugin. Patil, M., et al. Diagnosis and Treatment of Wilson Disease: An Update.Hepatology47(6): 2089-2111.