Alexion completes gene therapy purchase and license agreement from Pfizer

Alexion, AstraZeneca (AZN) Rare Disease, has completed a definitive purchase and license agreement for a portfolio of preclinical rare disease gene therapy programs and enabling technologies from Pfizer (PFE), the company announced. “These new resources build on the combined capabilities of Alexion and AstraZeneca in genomic medicine, with the objective to develop new genetic therapies with improved safety and efficacy profiles. Additionally, several of the Pfizer employees associated with the portfolio will join Alexion as employees. Alexion has purchased and licensed the assets of Pfizer’s early-stage rare disease gene therapy portfolio for a total consideration of up to $1B, plus tiered royalties on sales,” the company stated.