Alexion partners with Complement, divests non-core asset

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) announced a pair of deals on Monday, including a deal with Complement Pharma (Amsterdam, The Netherlands) to develop a preclinical complement 6 (C6) inhibitor for neurodegenerative diseases. The biotech also divested ALXN1101 to a newly formed subsidiary of BridgeBio Pharma LLC (Palo Alto, Calif.).

Alexion and Complement will co-develop Complement's CP010, a humanized mAb C6 complement inhibitor, through Phase Ib development. Complement will be eligible for €14 million ($16.5 million) in milestones, and Alexion will have an option to acquire the neurodegenerative disease company at any time while the collaboration is active. Complement will oversee preclinical and Phase I trials...