AZ’s exercise of Caelum option brings in amyloidosis therapy

By exercising an option originally held by Alexion, AstraZeneca will take full ownership of Caelum and obtain a therapy for AL amyloidosis that could reach patients not eligible for treatment with Darzalex under that drug’s accelerated approval.

AstraZeneca plc (LSE:AZN; NYSE:AZN) will pay $150 million for the remaining equity in Caelum Biosciences Inc. it did not already own. Alexion Pharmaceuticals Inc., which AstraZeneca acquired for $39 billion in a deal completed in July, purchased a 19.9% stake in Caelum in January 2019 for $30 million up front as it obtained the option. Shareholders are eligible for another $350 million in milestones...