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Stock Monitor: Unity Biotechnology Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 13, 2018 / If you want access to our free research report on Alexion Pharmaceuticals, Inc. (NASDAQ ALXN) ("Alexion"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ALXN as the Company's latest news hit the wire. On June 11, 2018, the Company announced that it has signed a partnership deal with Complement Pharma to co-develop the preclinical C6 complement inhibitor CP010 for neurodegenerative disorders. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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C6 inhibition prevents the formation of the destructive membrane attack complex (MAC), a complex of terminal complement proteins that mediate cellular injury following complement activation and has the potential to treat a variety of central nervous system disorders.
Terms of the Deal
Alexion will provide Complement Pharma with up to €14 million in milestone-dependent payments through Phase-1b development.
The agreement also provides Alexion with the option to acquire Complement Pharma during the term of the agreement.
Alexion and Complement Pharma will collaborate on the development program for CP010. Complement Pharma will be responsible for conducting preclinical and Phase-1 studies and for manufacturing CP010. The phased agreement extends through the completion of Phase-1b development.
Collaboration Provides Opportunity to Expand on Alexion's Two Decades of Complement Leadership
Commenting on the announcement, John Orloff, M.D., Executive VP and Head of Research & Development at Alexion, stated that the Company has been a pioneer in complement biology since the development of Soliris, the world's first complement inhibitor, which has demonstrated the significant impact that C5 inhibition can have on several diseases caused by uncontrolled complement activation.
John added that this collaboration provides an exciting opportunity to expand on the Company's more than two decades of complement expertise to potentially treat additional diseases by targeting C6, a different component of the complement system.
The Company also announced recently that its management will present at the Goldman Sachs 39th Annual Global Healthcare Conference in Rancho Palos Verdes, California on June 12, 2018.
CP010 is a humanized monoclonal antibody in preclinical development that binds to C6 in circulation to inhibit its function throughout the body by preventing MAC formation in both the periphery and the central nervous system. An end product of the activated complement cascade, MAC has been shown to play a role in neurodegeneration. CP010 has demonstrated C6 inhibition in vitro and in vivo; C6 inhibition prevents the formation of the MAC following complement activation which may allow treatment of a variety of central nervous system disorders.
About Complement Pharma
Headquartered in Amsterdam, Netherlands, Complement Pharma is a biotech company developing new therapeutics that target the complement system, an important component of the immune system. With a focus on C6, Complement Pharma aims to fight neurodegeneration in indications like TBI, ALS, and MS.
About Alexion Pharmaceuticals, Inc.
Founded in 1992 and headquartered in New Haven, Connecticut, Alexion is a global biopharmaceutical company focused on developing and delivering life-transforming therapies for patients with devastating and rare diseases. The Company's three highly innovative therapies treat patients with four severe and ultra-rare diseases.
Stock Performance Snapshot
June 12, 2018 - At Tuesday's closing bell, Alexion Pharma's stock slightly rose 0.75%, ending the trading session at $117.58.
Volume traded for the day: 1.33 million shares.
Stock performance in the previous six-month period – up 2.73%; and past twelve-month period – up 10.01%
After yesterday's close, Alexion Pharma's market cap was at $26.67 billion.
Price to Earnings (P/E) ratio was at 43.45.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 0.1% at the end of the session.
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