Business Wire

Alexion to Acquire Wilson Therapeutics

Jaa

Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) and Wilson Therapeutics AB (publ) announced today that Alexion has made a recommended public cash offer to the shareholders in Wilson Therapeutics to acquire all outstanding shares in Wilson Therapeutics by way of a tender offer, through a wholly-owned subsidiary. Wilson Therapeutics is a biopharmaceutical company, based in Stockholm, Sweden, that develops novel therapies for patients with rare copper-mediated disorders. Wilson Therapeutics’ product, WTX101, is in Phase 3 development as a treatment for Wilson disease, a rare genetic disorder with devastating hepatic and neurological consequences for patients. WTX101 is a first-in-class oral copper-binding agent with a unique mechanism of action and ability to access and bind copper from serum and promote its removal from the liver. WTX101 has received Fast Track designation in the U.S. and Orphan Drug Designation for the treatment of Wilson disease in the U.S. and EU.

“Wilson disease is a rare disorder that can lead to severe liver disease, including cirrhosis and acute liver failure, as well as debilitating neurological morbidities such as impaired movement, gait, speech, swallowing, and psychiatric disorders. WTX101 is an innovative product that addresses the underlying cause of the disease and has the potential to define a new standard of care in treating Wilson disease, an area that has not had a new treatment in over two decades,” said Ludwig Hantson, Chief Executive Officer of Alexion. “The acquisition of Wilson Therapeutics is a strong strategic fit for Alexion given the overlap with our current clinical and commercial focus on metabolic and neurologic disorders, and is an important first step in rebuilding our clinical pipeline.”

“Alexion is a global leader in rare diseases with a proven record of developing and commercializing therapies for patients with rare diseases, making them a great partner to make WTX101 available to Wilson disease patients worldwide,” said Jonas Hansson, CEO of Wilson Therapeutics.

The Transaction

Alexion will acquire Wilson Therapeutics through a tender offer that was launched this morning at 7:00 a.m. CET/1:00 a.m. EDT whereby Alexion, through a wholly owned subsidiary, has offered SEK 232 in cash for each outstanding share of Wilson Therapeutics. The total equity value of the transaction amounts to SEK 7,100 million, based on outstanding shares on a fully diluted basis, or approximately $855 million. The Independent Committee of the Board of Directors of Wilson Therapeutics has unanimously recommended Wilson Therapeutics shareholders accept the offer and Alexion’s Board of Directors also unanimously approved the offer. Alexion has obtained shareholder support agreements from the four largest shareholders accounting for 57.4% of Wilson Therapeutics’ outstanding shares and two additional shareholders accounting for 8.7% for a total of 66.1% of Wilson Therapeutics’ outstanding shares, to the effect that these shareholders have undertaken to accept the offer on certain terms. In addition, Polar Capital, holding 7.3% of Wilson Therapeutics’ outstanding shares, has expressed its support for, and intends to accept, the Offer, for a total support of 73.4%. The acquisition of Wilson Therapeutics requires approval of relevant regulatory authorities, and Alexion expects to obtain such approvals prior to the end of the acceptance period. The tender offer is expected to complete and the transaction is expected to close in the second quarter of 2018. Alexion intends to finance the acquisition through cash on hand.

BofA Merrill Lynch is acting as Alexion’s lead financial advisor. Deutsche Bank is also serving as a financial advisor, and DNB Markets is acting as Nordic financial advisor and Settlement Agent. Advokatfirman Cederquist is acting as Alexion’s legal advisor as to Swedish law, and Ropes & Gray LLP is acting as legal advisor as to U.S. law in connection with the Offer. Lazard is acting as exclusive financial adviser to Wilson Therapeutics, and Vinge is serving as legal counsel to Wilson Therapeutics.

For additional details on the transaction, please visit http://ir.alexion.com/acquisitions.cfm.

Conference Call

Alexion will host a conference call/webcast today, April 11, 2018 at 8:30 a.m. EDT to discuss the acquisition. To participate in this call, dial (866) 762-3111 (USA) or (210) 874-7712 (International), passcode 8294207, shortly before 8:30 a.m. EDT. A replay of the call will be available for a limited period of time following the call. The replay number is (855) 859-2056 (USA) or (404) 537-3406 (International), passcode 8294207. The audio webcast can be accessed on the Investors page of Alexion’s website at: http://ir.alexion.com.

About Wilson Disease

Wilson disease is a rare, chronic, genetic and potentially life-threatening liver disorder of impaired copper transport. Copper balance is normally maintained in the body by hepatic excretion of excessive copper in the bile. In patients with Wilson disease, a genetic mutation disables this biliary excretion pathway and excess copper accumulates over time in the liver cells. The accumulation of copper eventually overwhelms safe storage capacity and cellular injury occurs. When the liver’s capacity for copper storage is exceeded, and when liver cells are injured, copper is released into the circulation and may accumulate in other organs, including the central nervous system. Untreated, Wilson disease leads to various combinations and severity of hepatic, neurologic and psychiatric symptoms, and can be fatal.1,2

Wilson disease affects approximately one in every 30,000 people worldwide.3 The average age of diagnosis is 15-20 years,3 with the majority of patients presenting between the ages of 10 and 30.4 Current standard of care includes metal chelators to remove serum copper, followed by maintenance with zinc to prevent re-accumulation.1,2 There have been no new treatment options approved in over two decades and a significant unmet need still exists for patients.

About WTX101

WTX101 (bis-choline tetrathiomolybdate) is a first-in-class copper-binding agent with a unique mechanism of action, under investigation as a novel therapy for Wilson disease. In contrast to current treatments, WTX101 provides an alternative copper-protein binding mechanism by forming a tripartite complex with copper and albumin. WTX101 thereby detoxifies excess copper in both the liver and blood, and promotes copper clearance through biliary excretion (the body’s natural route of elimination). WTX101 has a 10,000-fold higher affinity for copper than other chelators and addresses the underlying cause of the disease.

A Phase 2 study evaluating the efficacy and safety of WTX101 in patients with Wilson disease has been completed successfully.5 In addition, the active moiety of WTX101, tetrathiomolybdate, has been tested in several previous clinical studies in Wilson disease patients. The data from these studies suggest that WTX101 can reduce and control free copper levels and improve symptoms and associated disabilities. The data also suggest that WTX101 is generally well tolerated with a low risk of drug-induced neurological worsening. WTX101 has received Fast Track designation in the U.S. and Orphan Drug Designation for the treatment of Wilson disease in the U.S. and EU.

About Wilson Therapeutics

Wilson Therapeutics is a biopharmaceutical company, based in Stockholm, Sweden, that develops novel therapies for patients with rare copper-mediated disorders. Wilson Therapeutics’ product, WTX101, is in Phase 3 development as a novel treatment for Wilson disease. Wilson Therapeutics is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker WTX. For more information please visit www.wilsontherapeutics.com.

About Alexion

Alexion is a global biopharmaceutical company focused on serving patients and families affected by rare diseases through the innovation, development, and commercialization of life-changing therapies. Alexion is the global leader in complement inhibition and has developed and commercializes the first and only approved complement inhibitor to treat patients with paroxysmal nocturnal hemoglobinuria (PNH), atypical hemolytic uremic syndrome (aHUS), and anti-acetylcholine receptor (AchR) antibody-positive generalized myasthenia gravis (gMG). In addition, Alexion has two highly innovative enzyme replacement therapies for patients with life-threatening and ultra-rare metabolic disorders, hypophosphatasia (HPP) and lysosomal acid lipase deficiency (LAL-D). As the leader in complement biology for over 20 years, Alexion focuses its research efforts on novel molecules and targets in the complement cascade, and its development efforts on the core therapeutic areas of hematology, nephrology, neurology, and metabolic disorders. This press release and further information about Alexion can be found at: www.alexion.com.

[ALXN-G]

Forward-Looking Statement

This press release contains forward-looking statements, including statements related to the status of and plans for clinical trials for WTX101, the potential benefits of WTX101 for the treatment of Wilson disease, and the potential benefits of the transaction. Forward-looking statements are subject to factors that may cause Alexion's results and plans to differ from those expected, including for example, decisions of regulatory authorities regarding the adequacy of our research, marketing approval or material limitations on the marketing of our products, delays, interruptions or failures in the manufacture and supply of our products and our product candidates, failure to satisfactorily address matters raised by the U.S. Food and Drug Administration and other regulatory agencies, the possibility that results of clinical trials are not predictive of safety and efficacy results of our products in broader patient populations, the possibility that clinical trials of our product candidates could be delayed, the adequacy of our pharmacovigilance and drug safety reporting processes, uncertainties surrounding legal proceedings, company investigations and government investigations, including investigations of Alexion by the U.S. Securities and Exchange Commission (SEC) and U.S. Department of Justice, the risk that anticipated regulatory filings are delayed, the risk that estimates regarding the number of patients with Wilson disease are inaccurate, the risks of changing foreign exchange rates, risks relating to the potential effects of the Company's restructuring and relocation of its corporate headquarters, and a variety of other risks set forth from time to time in Alexion's filings with the SEC, including but not limited to the risks discussed in Alexion's Annual Report on Form 10-K for the period ended December 31, 2017 and in our other filings with the SEC. Alexion does not intend to update any of these forward-looking statements to reflect events or circumstances after the date hereof, except when a duty arises under law.

References

1 Roberts, E. and M.L. Schilsky (2008). “Diagnosis and Treatment of Wilson Disease: An Update.” Hepatology 47(6): 2089-2111.

2 European Association for the Study of the Liver (2012). “EASL clinical practice guidelines: Wilson’s Disease.” J Hepatol 6(53): 671-685.

3 Merle, U. et al., (2007). “Clinical presentation, diagnosis and long-term outcome of Wilson’s disease: a cohort study.” Gut 56: 115-120.

4 Beinhardt, S. et al., (2014). “Long-term outcomes of patients with Wilson disease in a large Austrian cohort.” Clin Gastroenterol Hepatol 12: 683-689.

5 Weiss, K.H. et al., (2017). “Bis-choline tetrathiomolybdate in patients with Wilson’s disease: an open-label, multicentre, phase 2 study.” Lancet Gastroenterol Hepatol 2(12): 869-876.

Contact information

Alexion
Media
Kim Diamond, 475-230-3775
kim.diamond@alexion.com
Or
Investors
Susan Altschuller, PhD, 475-230-3534
susan.altschuller@alexion.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Fieldstone Consolidates Global Structure21.11.2018 09:50Tiedote

Fieldstone, a leading independent investment bank and financial services provider in the energy and infrastructure sector, has brought together its services and offerings under unified ownership and management on a global basis. Jason Harlan, Fieldstone’s CEO, commented, “We have been working on this consolidation project for some time, and it is pleasing that we have now reached the point where we have taken full control of Fieldstone. This has resulted in the small New York team and its Malaysian subsidiary, being required to change the name and license of their operations, with immediate effect.” With this transition, Fieldstone will be able to even better provide a truly seamless global offering, which it has been doing successfully for nearly 28 years. As part of this process, Fieldstone launched a permanent Washington DC office and subsidiary (Fieldstone Development Corporation or Fieldstone DC) earlier this year to serve both North American clients and to assist multi-lateral an

Prominent Coalition of World Class International and Danish Law Firms and ISAF Management Company Proceed with Investor Lawsuit against Danske Bank21.11.2018 02:00Tiedote

International Securities Associations and Foundations Management Company (“ISAF”) announces the formation of an international coalition of leading American, German and Dutch law firms and the appointment of the preeminent Danish law firm, Németh Sigetty, to proceed with a lawsuit against Danske Bank A/S (“Danske” or the “Bank”) to pursue compensation for damaged investors after revelations of money laundering, financial mismanagement and deficient regulatory disclosures. The lawsuit will be filed in Copenhagen, Denmark on behalf of investors who suffered investment losses in Danske’s share price after various disclosures related to an estimated EUR €200 billion money transfer scheme involving non-resident Eastern European and Russian customers in the Bank’s Estonian Branch. Information about critical lapses in Danske’s ‘know your customer’ and anti-money laundering internal enforcement policies, and its failure to act upon both internal and external warnings of non-compliance, caused a

Saif bin Zayed Witnesses Endorsement of Abu Dhabi Declaration by Religious Leaders at Wahat Al Karama21.11.2018 01:28Tiedote

Under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Lt. General HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, attended the endorsement of the “Abu Dhabi Declaration.” The declaration, issued by the Interfaith Alliance for Safer Communities: Child Dignity in the Digital World Forum was endorsed and approved by religious and spiritual leaders participating in the two-day assembly, which took place in Abu Dhabi on November 19-20, who pledged to act upon the declaration’s articles and achieve the objectives and obligations outlined by the leaders of the seven major world religions participating in the forum. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181120005775/en/ Saif bin Zayed, Khalifa bin Tahnoun, alongside religious and spiritual leaders in front of a memorial to express commitment

Guy Carpenter Names Ross Howard Vice Chairman20.11.2018 20:46Tiedote

Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), today announced a new leadership appointment from the Jardine Lloyd Thompson Group plc (JLT) reinsurance organization. Effective upon closing of the transaction between Guy Carpenter’s parent company, Marsh & McLennan Companies and JLT, which remains subject to the receipt of certain antitrust and financial regulatory approvals, Ross Howard, Chairman of JLT Re, will become Vice Chairman of Guy Carpenter, reporting to President & CEO Peter Hearn. Mr. Howard will also become a member of Guy Carpenter’s Executive Committee and will be responsible for developing new business opportunities and assisting with client relationships in order to continue the growth of the combined global reinsurance business. Additionally, Mr. Howard will also play a key role in executing the integration of JLT Re with Guy Carpenter. “We are very excited to take

IDEMIA Will Present Its 2018 Quarterly Financial Results to Investors on November 21, 201820.11.2018 20:31Tiedote

IDEMIA, the world leader in Augmented Identity, today announced that it will present its Q3 2018 financial results to investors on Wednesday November 21, 2018. Yann Delabrière (CEO), Frédéric Beylier (COO) and Laurent Lemaire (CFO) will be presenting the financial results and taking questions the same day at 1:00 pm CET (12:00 pm London Time / 7:00 am New York Time). For more information, please refer to our website: http://investors.oberthur.com About IDEMIA OT-Morpho is now IDEMIA, the global leader in Augmented Identity, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment. Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable t

OCP Announces Date of Third Quarter 2018 Earnings20.11.2018 20:00Tiedote

OCP S.A. (“OCP” or the “Company”), a global leader in the fertilizer industry, will release its third quarter 2018 results on Thursday, November 29, 2018. The results will be available to holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers on the OCP Intralinks portal from 8:30 a.m. EST, 2:30 p.m. Morocco time (GMT+1), and 1:30 p.m. London time (GMT). OCP senior management will host a conference call to discuss third quarter 2018 results at 9:30 a.m. EST, 3:30 p.m. Morocco time (GMT+1), and 2:30 p.m. London time (GMT) on Thursday, November 29, 2018 for holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers. Eligible parties that have not already registered for access to the Intralinks portal may do so by contacting the Investor Relations Department by emailing g.laraki@ocpgroup.ma About OCP OCP is a global leader in the fertilizer industry, backed by almost a century’s production history. O

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme