Alexion buys Wislon Therapeutics for $855 MillionApril 11, 2018
Alexion has offered to buy shares in a Stockholm-based biopharmaceutical company Wilson Therapeutics, which develops novel therapies for patients with rare copper-mediated disorders.
Wilson Therapeutics’ product, WTX101, is in Phase 3 development as a treatment for Wilson disease, a rare genetic disorder with devastating hepatic and neurological consequences for patients. WTX101 is a first-in-class oral copper-binding agent with a unique mechanism of action and ability to access and bind copper from serum and promote its removal from the liver. 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.
Ludwig Hantson, Chief Executive Officer of Alexion. “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.”
According to the company’s press release form Wednesday, Alexion will buy Wilson Therapeutics for SEK 7,100 million (€690M), or approximately $855 million. Alexion has gotten shareholder support agreements from the four largest shareholders who have 57.4% of Wilson Therapeutics’ outstanding shares and two additional shareholders with 8.7% for a total of 66.1% of Wilson Therapeutics’ outstanding shares. In addition, Polar Capital, with 7.3% of Wilson Therapeutics’ outstanding shares, also intends to accept the offer, for a total support of 73.4%.
The transaction is expected to close in the second quarter of 2018.