Alexion Pharmaceuticals drug Ultomiris is already approved to treat a rare blood disorder, but the company hoped the antibody’s approach could also work in amyotrophic lateral sclerosis. Despite failing in ALS, Alexion, recently acquired by AstraZeneca, brings additional clinical-stage programs for rare diseases.
Alexion said that the deal would help it diversify beyond the complement C5 inhibitors like Soliris that have been its primary cash cow. Portola markets drugs for coagulation-related disorders and is also developing a drug for T- and B-cell lymphomas.
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The biotech company said it would initiate a Phase III trial of Ultomiris in Covid-19-related pneumonia and acute respiratory distress syndrome. The announcement comes nearly a month after it said it was exploring the use of Soliris, an older and related drug.
Shares of Alexion fell more than 11 percent Friday as the office instituted an inter partes review for the drug, Soliris, in the blood disorder paroxysmal nocturnal hemoglobinuria.