Alexion To Acquire Syntimmune - Quick Facts

(RTTNews) - Alexion Pharmaceuticals, Inc. (ALXN) and Syntimmune announced a definitive agreement for Alexion to acquire Syntimmune, a clinical-stage biotechnology company developing antibody therapeutics targeting the neonatal Fc receptor. 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 value of up to $1.2 billion.

Syntimmune's lead candidate, SYNT001, is a monoclonal antibody that specifically blocks FcRn-IgG interactions and is being studied in multiple Phase 1b/2a trials for the treatment of IgG-mediated autoimmune diseases.

"Targeting FcRn holds great promise in transforming the treatment of IgG-mediated diseases. SYNT001 has successfully demonstrated proof of mechanism - the ability to rapidly lower IgG levels - in early clinical studies and has the potential to treat a number of rare IgG-mediated diseases," said Ludwig Hantson, CEO of Alexion.