Alexion Pharmaceuticals, Inc. completed the acquisition of remaining majority stake in Caelum Biosciences, Inc. from Fortress Biotech, Inc. and others.
October 04, 2021
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Alexion Pharmaceuticals, Inc. agreed to acquire Caelum Biosciences, Inc. from Fortress Biotech, Inc. (NasdaqCM:FBIO) and others for $500 million on September 28, 2021. Upon closing, Alexion will pay Caelum the agreed option exercise price of approximately $150 million, with the potential for additional payments of up to $350 million upon achievement of regulatory and commercial milestones. The transaction is expected to close on October 5, 2021. Mark McElreath and James Sullivan of Alston & Bird LLP acted as the legal advisors to Caelum Biosciences.
Alexion Pharmaceuticals, Inc. completed the acquisition of Caelum Biosciences, Inc. from Fortress Biotech, Inc. (NasdaqCM:FBIO) and others on October 5, 2021. The additional payment of $350 million includes: $75 million upon Biologics License Application approval of CAEL-101, $50 million upon CAEL-101 attaining $250 million in annual net sales; $50 million upon CAEL-101 attaining $500 million in annual net sales; $75 million upon CAEL-101 attaining $750 million in annual net sales; and $100 million upon CAEL-101 attaining $1 billion in annual net sales.
Fortress Biotech, Inc. is a biopharmaceutical company focused on acquiring and advancing assets. The Company has seven marketed prescription pharmaceutical products and over 25 programs in development at the Company, at its majority-owned and majority-controlled partners and subsidiaries and at partners and subsidiaries it founded and in which it holds significant minority ownership positions. Such product candidates span six market areas, including oncology, rare diseases and gene therapy. Its dermatology products include Qbrexza, Accutane, Amzeeq, Zilxi, Targadox, Exelderm and Luxamend. Its late stage product candidates include Cosibelimab (anti-PD-L1 antibody), DFD-29 (modified release oral minocycline for the treatment of rosacea), CUTX-101 (copper histidinate injection for Menkes disease), IV Tramadol, Olafertinib (also known as CK-101, EGFR inhibitor for EGFR mutation-positive NSCLC), CAEL-101 (monoclonal antibody for AL amyloidosis) and Triplex (cytomegalovirus (CMV) vaccine).
Alexion Pharmaceuticals, Inc. completed the acquisition of remaining majority stake in Caelum Biosciences, Inc. from Fortress Biotech, Inc. and others.
FORTRESS BIOTECH, INC. 
