AstraZeneca and Pfizer Ink $1 Billion Rare Disease Deal

Alexion Pharmaceuticals, a subsidiary of AstraZeneca focusing on rare disease management, announced a definitive purchase agreement with Pfizer on July 28, 2023. Alexion will acquire a portfolio of preclinical rare disease gene therapies from Pfizer for a total consideration of up to $1 billion.

According to a company press release, the transaction features various novel adeno-associated virus (AAV) capsids, which are used for delivering therapeutic gene cargos for both gene therapy and gene editing. In addition to the portfolio, Alexion will welcome talent from Pfizer associated with the portfolio.

In the release, Alexion indicated that the deal is designed to further the combined capabilities of both it and AstraZeneca in genomic medicines. It follows a move from last October, where the company acquired LogicBio, a genetic medicines company, with the objective of developing new genetic therapies with improved safety and efficacy profiles.

“Today’s announcement represents another major step forward in Alexion and AstraZeneca’s ambition to be an industry leader in genomic medicine, which has potential to be transformative and even curative for patients with devastating diseases,” said Marc Dunoyer, CEO, Alexion, AstraZeneca Rare Disease, in the release. “We look forward to continuing our work to develop enhanced platforms and technologies with broad therapeutic application while integrating best-in-class expertise to accelerate promising therapeutics into the clinic.”

Source: Alexion