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You have selected a link that will take you to a site maintained by a third party who is solely responsible for its contents. Diagnosis and treatment of Wilson disease: An update. Copper balance is maintained in normal healthy individuals by excreting copper in bile. Alexion will pay about $27.90 (US) per share, for a total of about $855 million. 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.. Everything was fine for about two weeks.. Authors may own the stocks they discuss. The company recently announced that it will acquire Sweden-based Wilson . The company is listed in the Mid-Cap segment on Nasdaq Stockholm with the stock ticker WTX. The total equity value of the transaction amounts to SEK 7,100 million, based on . Alexion shares opened at $112.47 apiece on Wednesday, down almost 1% from Tuesday's market close. Copper balance is normally maintained in the body by hepatic excretion of excessive copper in the bile. Wilson disease is a rare, chronic, genetic, and potentially life-threatening liver disorder of impaired copper transport. AstraZeneca provides this link as a service to website visitors. Make a difference for families like Tristan's. 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). The takeover will further Alexion . Please visitastrazeneca.comand follow the Company on Twitter @AstraZeneca. Alexion hopes that the move will help it expand its rare diseases pipeline after the company received criticism over the high price of blood disease drug Soliris, which, at $500,000 per patient per year, is one of the most expensive drugs in the world. Give your business an edge with our leading industry insights. As of Dec. 31, the big biotech had $584 million in cash and cash equivalents and $890 million in marketable securities. Alexion Offer for Wilson Therapeutics Accepted | BioSpace (Registration No. Powered by Madgex Job Board Software. The tender offer is expected to be completed, and the transaction is expected to close, in the second quarter, following regulatory approvals. 1 IBD 50 Stock Catalyst Tanks As Teva Looks To Knock Off Its Only Product. We continue to evolve into new areas where there is great unmet need and opportunity to help people living with rare diseases and their families fully live their best lives. Alexion (ALXN) to Acquire Wilson Therapeutics for $855M WTX101 (bis-choline tetrathiomolybdate) is a first-in-class copper-binding agent with a unique mechanism of action, under investigation as a novel therapy for Wilson disease. We will focus on the transformative nature of this product and, with the current treatments, the root cause of the disease is not addressed.". Patients who completed the primary 48-week treatment period of the trial were offered the opportunity to participate in an up to 60-month extension period to evaluate the long-term safety and efficacy of ALXN1840. Veeva ID: Z4-46798Date of next review: August 2024. ALXN1910 is an investigational, next-generation, tissue-nonspecific alkaline phosphatase (TNSALP) enzyme replacement therapy (ERT). Bis-choline tetrathiomolybdate in patients with Wilsons disease: an open-label, multicentre, phase 2 study. Wilson Therapeutics AB announces public offer from Alexion Pharmaceuticals. Pipeline | Alexion PIPELINE Advancing Our Pipeline Every Day We're building on our fundamental understanding of complement biology and advancing on our core therapeutic areas of hematology, nephrology, neurology, metabolics, and cardiology. Let BioPharma Dive's free newsletter keep you informed, straight from your inbox. SE-111 43 Stockholm The current standard of care includes avoiding copper-containing foods and a therapy called copper chelation, which detoxifies a patient's blood. These two shareholders together hold 8.7 per cent of the total number of shares and votes in Wilson Therapeutics. Acquisition of Alexion completed - AstraZeneca The company has a drug candidate, WTX101, in Phase II development as a treatment for Wilson disease. 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. ALXN2030 is an siRNA targeting the C3 complement protein. On this basis, the Committee unanimously recommends the shareholders of Wilson Therapeutics to accept the Offer. Alexion Purchases Wilson Therapeutics for $855M: Expands Pipeline "This remains a show-me stock for now," he said in a report to clients. 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. This cookie is set by GDPR Cookie Consent plugin. Rare is Proud. The deal is expected to close in the second quarter. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Important notice for users Topics covered: Gene replacement therapy, gene editing, engineered cell therapy, manufacturing, pricing, reimbursement and much more. The primary endpoint assessed copper mobilisation, defined as daily mean AUEC for directly measured dNCC over 48 weeks. It does not store any personal data. Please refer to Alexions press release regarding the Offer for more information about the Irrevocable Undertakings. Wilson disease For Media contacts, clickhere. 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. We prioritized our pipeline to ensure that we are leveraging our leadership in complement and rare diseases, and expanded our focus from ultra-rare to rare, which we believe will have a meaningful impact on building the business in the long-term, Dr. Hantson told analysts on the companys quarterly conference call following release of fourth-quarter and full-year 2017 results, according to a transcript published by Seeking Alpha. Alexion acquired ALXN1840 when it bought Wilson Therapeutics for $855 million in 2018, and it has previously been tipped as a potential blockbuster thanks to its "total body de-coppering" approach. Save my name, email, and website in this browser for the next time I comment. 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. Syprine was invented decades ago. June 07, 2018 Alexion Pharmaceuticals, Inc. (NasdaqGS:ALXN) made a recommended public cash offer to acquire Wilson Therapeutics AB (publ) (OM:WTX) from a group of sellers for SEK 6.6 billion on April 11, 2018. *Real-time prices by Nasdaq Last Sale. American Association for the Study of Liver D. (2008). Subscribe to BioPharma Dive for top news, trends & analysis, The free newsletter covering the top industry headlines, Permission granted by Institute of Protein Innovation, Acceleration Point Announces Matt Rogers as New Senior Director of Business Development, Enhancing Patient Inclusion Through Partnership: Bionical Emas Joins FindMeCure & EUPATI, Andersen's Healthcare Multiplatform Tool for Drug Prescription Revolutionizes the Medical Cann, AI-powered Home Health Care Module to Manage Remote Visits in Clinical Studies, By signing up to receive our newsletter, you agree to our. 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. Alexion Pharmaceuticals To Buy Rare Disease Player Wilson Therapeutics 2000-2023 Investor's Business Daily, LLC. The closing of the acquisition marks the Company's entry into medicines for rare diseases and the beginning of a new chapter for AstraZeneca. Alexion to Acquire Wilson Therapeutics | Business Wire Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. 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. As we advance this first innovation in Wilson disease treatment in more than 30 years, we will continue to follow these patients long term to further assess clinical impact on disease symptoms. Necessary cookies are absolutely essential for the website to function properly. By absorbing Swedish biotech Wilson Therapeutics AB, Alexion will flesh out its pipeline with WTX101, a treatment for Wilson disease. significantly reduced patients'free copper levels 72% after about three months. Get the free daily newsletter read by industry experts. SE-111 43 Stockholm "We think this history perhaps gives Alexion some options on pricing for WTX101, as it could offer a heavy discount and still have a nicely priced product," he said. Wilson Therapeutics - Wikipedia 1Roberts, E. and M.L. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Kungsgatan 3 In Wilson disease patients, a genetic abnormality disrupts the biliary excretion pathway and excess copper accumulates in liver cells. Wilson Therapeutics AB announces public offer from Alexion 2European Association for the Study of the Liver (2012). Lazard is acting as exclusive financial adviser to Wilson Therapeutics. In 2017, the chief commercial officer, chief financial officer and two executive vice presidents left the company following a sales practices scandal. Pipeline | Alexion This press release and further information about Alexion can be found at:www.alexion.com. We are innovators, leaders, and collaborators. Corp. Reg. Biotech M&A rolls on as Alexion snaps up Wilson for $855 million In a. The accumulation of copper eventually overwhelms safe storage capacity and cellular injury occurs. As the leader in complement biology for over 20 years, Alexion focuses its research efforts on novel molecules and targets in the complement cascade, and its development efforts on the core therapeutic areas of hematology, nephrology, neurology, and metabolic disorders. WTX101 is also in a stronger position than the drug Kanuma, which Alexion acquired along with Synageva BioPharma in 2015. And at the heart of everything we do is an intense desire to pursue the toughest challenges and truly change the world for people living with rare and devastating diseases. Additional analyses, including individual patient-reported outcomes and clinician-reported functional assessments, are ongoing and will be presented at an upcoming medical meeting. 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Career Opportunities | Alexion Since the acceptance level condition has not been fulfilled, Agnafit Bidco hereby withdraws the offer, Agnafit Bidco said in a statement. 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. Completion of the Offer is conditional upon customary conditions, inter alia, that it is accepted to the extent that Alexion becomes the owner of more than 90 percent of the total number of shares in Wilson Therapeutics as well as the receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions, including from competition authorities, in each case on terms which, in Alexions opinion, are acceptable. United States Operations | Alexion Alexion To Acquire Wilson Therapeutics - Corporate Insider Hepatology, 47(6), 2089-2111. AstraZeneca Tesla. I look at the Wilson Therapeutics acquisition and the potential of WTX101. Privacy Policy & Terms of Use. The Offer is not conditional upon financing. . EASL clinical practice guidelines: Wilsons Disease. He added the two drugs can cost anywhere from $8,000 to $300,000 annually. Click cancel to return to AstraZenecas site or continue to proceed. Wilson Therapeutics : Dec 14, 2017 WTX101 granted Fast Track designation by the U.S. FDA f.. Wilson Therapeutics : Nov 23, 2017 Wilson Therapeutics AB (publ) Interim Report January 1&.. Wilson Therapeutics : Jun 01, 2018 Wilson Therapeutics to present data from WTX101 Phase 2.. 2) LP) and NeoMed Innovation V LP, the four largest shareholders in Wilson Therapeutics, whose combined shareholding in Wilson Therapeutics represents approximately 57.4 per cent of the total number of shares and votes, have entered into undertakings with Alexion to accept the Offer, subject to certain conditions (the Irrevocable Undertakings). Generalized myasthenia gravis (#gMG) is a rare autoimmune disorder characterized by loss of muscle function and severe muscle weakness. Roughly one in 30,000 people in the U.S. and the EU's five biggest countries have Wilson's, a potentially deadly condition where a genetic mutation causes copper to build up in liver cells. This cookie is set by GDPR Cookie Consent plugin. For additional details on the transaction, please visithttp://ir.alexion.com/acquisitions.cfm. Due to the timeline for the Offer, the Board of Directors has decided to postpone the 2018 AGM, which was initially scheduled to be held on 16 May 2018. Alexion Offer for Wilson Therapeutics Accepted | Alexion