Alexion, Affibody in Partnership for Autoimmune-Disease Drug

By Chris Wack

Alexion Pharmaceuticals Inc. (ALXN) and Affibody AB said Wednesday they have partnered to co-develop ABY-039 for rare Immunoglobulin G (IgG)-mediated autoimmune diseases.

Currently in Phase 1 development, ABY-039 is a bivalent antibody-mimetic that targets the neonatal Fc receptor. ABY-039 has been specifically designed to combine Affibody's protein therapeutics platform and Albumod technology to achieve a long half-life, which, along with its small size provides the potential for less frequent, convenient, at-home subcutaneous administration.

Under the terms of the agreement, Alexion will provide Affibody with an upfront payment of $25 million, with the potential for additional development-and sales-based milestones of up to $625 million and tiered low double-digit royalty payments. Alexion will lead joint clinical development of ABY-039 and commercialization activities. Affibody has the option to co-promote ABY-039 in the U.S. and will lead clinical development for an undisclosed indication.

ABY-039 is being evaluated in a Phase 1 study in healthy volunteers. This adaptive, double-blind, placebo-controlled study is evaluating the safety, tolerability, pharmacokinetics and pharmacodynamics of ABY-039 and will aid in dose selection for future studies. The companies are assessing potential indications for future development.

The companies expect to close the transaction in the second quarter of 2019.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

March 20, 2019 07:01 ET (11:01 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.