Alexion Pharmaceuticals to Acquire Enobia Pharma
Alexion Pharmaceuticals plans to buy drug developer Enobia Pharma in a deal that could be worth $1.08 billion.
Alexion Pharmaceuticals Inc. said Wednesday it will buy drug developer Enobia Pharma Corp. in a deal that could be worth $1.08 billion.
Alexion will pay $610 million cash upfront for Enobia and as much as $470 million more based on regulatory and sales milestones.
Enobia is a privately held company based in Montreal and Cambridge, Mass. Its most advanced drug candidate is ENB-0040, an experimental treatment for hypophosphatasia.
ENB-0040 is in mid-stage clinical testing, and it has received orphan drug status in the U.S. and European Union, along with fast-track status in the U.S. Fast track reviews are intended to lead to faster decisions about drugs for serious illnesses or u
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