Alexion Pharmaceuticals has entered into an agreement to acquire Syntimmune, a clinical-stage biotechnology company developing antibody therapeutics.
Under the terms of the agreement, announced last week, Alexion will acquire Syntimmune for an upfront payment of $400 million, with the potential for additional milestone-dependent payments of up to $800 million, for a total potential value of up to $1.2 billion.
“The acquisition of Syntimmune represents a critical step in rebuilding Alexion’s pipeline and further diversifying the company’s clinical-stage rare disease portfolio,” said Alexion CEO Ludwig Hantson. “It offers a strong strategic fit with Alexion’s existing rare disease franchises.”
“Since the company’s founding in 2013, the team at Syntimmune has been focused on developing transformative therapies for patients with autoimmune diseases,” said Syntimmune Chairman Seth Harrison, M.D. “We see tremendous promise for SYNT001, which is being evaluated in multiple IgG-mediated autoimmune diseases in ongoing clinical trials.”
Headquartered in Boston, Syntimmune is a clinical-stage biotechnology company developing antibody therapeutics targeting the neonatal Fc receptor. The company’s SYNT001 antibody has exhibited the potential to improve treatment in a number of rare IgG-mediated diseases. SYNT001 is currently being evaluated in Phase 1b/2a studies.
