Pharmaceutical and biotechnology company focusing to pushing boundaries in the science space to deliver life changing medicines AstraZeneca Plc. (LON: AZN) announced that it’s planning to acquire Caelum Biosciences Inc. in a deal worth $500 million.
Caelum Biosciences is a clinical stage biotechnology company specializing on developing treatments for AL Amyloidosis which is a rare and life-threatening hematologic disorder. The condition affects heart, kidneys and other major body organs.
AstraZeneca which recently acquired fellow United States based drug manufacturer focusing on orphan drugs to treat rare conditions Alexion Pharmaceuticals, says this acquisition is aimed at expanding its access into rare-disease treatments.
The company says that its Alexion unit will buy the remaining stake in Caelum Biosciences. AstraZeneca further adds that it’s aiming at advancing late-stage clinical trials by Caelum involving a potential medicine to treat AL amyloidosis.