November 02, 2018
Foley Hoag LLP represented global biopharmaceutical company Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN) in its acquisition of clinical-stage biotechnology company Syntimmune, Inc. Under the terms of the agreement, Alexion acquired Syntimmune for an upfront payment of $400M, with the potential for additional milestone-dependent payments of up to $800M (a total value of up to $1.2B).
Alexion’s global headquarters are located in Boston, MA and its EMEA headquarters are located in Zurich, Switzerland. For over 20 years, the company has focused on serving patients and families affected by rare diseases through the discovery, development and commercialization of life-changing therapies. The acquisition will add to Alexion’s growing pipeline with the addition of Syntimmune’s SYNT001, a monoclonal antibody that specifically blocks FcRn-IgG interactions and is being studied in multiple Phase 1b/2a trials for the treatment of IgG-mediated autoimmune diseases.
Foley Hoag partner Mark Haddad led the team with associates Corey Brown, Gabrielle Bernstein, Caroline Samp and Justin Beegle. Partners Nicola Lemay and Teresa Martland, along with associate Chasse Osborn, provided tax support.