Alexion and Stealth Announce Agreement for Option to Co-Develop and Commercialize Late-Stage Therapy for Mitochondrial Diseases
Alexion Pharmaceuticals, Inc (ALXN)
Last alexion pharmaceuticals, inc earnings: 1/30 06:30 am
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Source: Business Wire
- Elamipretide in Phase 3 development for primary mitochondrial myopathy -- If option is exercised, Alexion & Stealth will co-develop and co-promote subcutaneous elamipretide in U.S. & Alexion will receive exclusive ex-U.S. license -- Stealth to receive initial payment of $30 million for equity investment, option fee and development funding, with potential for additional option-related & milestone-dependent payments if option is exercised - BOSTON--(BUSINESS WIRE)--Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) and Stealth BioTherapeutics Corp (NASDAQ:MITO) today announced an agreement for an option to co-develop and commercialize elamipretide for mitochondrial diseases. Currently being evaluated in a Phase 3 study in people with primary mitochondrial myopathy (PMM) - a genetic mitochondrial disease - elamipretide is a novel, potential first-in-class therapy that targets mitochondrial dysfunction. There are currently no therapies approved to treat PMM, which is characterized by debili
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