Alexion Pharma to acquire Enobia for around $1.08 bn

Alexion Pharmaceuticals Inc, a rare blood disease drug maker, yesterday said it will acquire privately held Enobia Pharma Corp, for as much as $1.08 billion, to expand its treatments for very rare life-threatening diseases.

Montreal, Canada-based Enobia is a clinical stage biotech company focused on developing novel therapeutics for serious metabolic bone disorders.

Enobia's Enobia's main drug, asfotase alfa (ENB-0040) seeks enzyme-replacement therapy for patients suffering with hypophosphatasia (HPP), an ultra-rare, life-threatening, genetic metabolic disease for which there are no approved treatment options.

Hypophosphatasia is an ultra-rare and life-threatening disease, and those patients who survive, live with debilitating morbidities, including skeletal deformity, severe muscle weakness, and progressive damage to vital organs.

The company's largest investors include OrbiMed, Fonds de Solidarite des Travailleurs du Quebec, Capital Regional et Cooperatif Desjardins, CTI Life Sciences Fund, and Lothian Partners.

Alexion, based in Cheshire, Connecticut, will acquire full worldwide development and commercial rights to asfotase alfa, which was awarded orphan drug designation in the US and EU in 2008 and Fast Track status in the US in 2009, and is currently in Phase II clinical development.