AstraZeneca-backed Alexion completed the acquisition of the remaining stake in Caelum Biosciences from Fortress Biotech for $350m.

AstraZeneca-backed Alexion, a company focused on rare diseases, completed the acquisition of the remaining stake in Caelum Biosciences, a clinical-stage biotechnology company, from Fortress Biotech for $350m. "With a median survival time of less than 18 months following diagnosis, there is an urgent need for new treatments for this devastating disease. CAEL-101 has the potential to be the first therapy to target and remove amyloid deposits from organ tissues, improve organ function, and, ultimately, lead to longer lives for these patients," Marc Dunoyer, Alexion CEO.