Alexion Pharmaceuticals, Inc. entered into a definitive agreement to acquire WilmerHale client Enobia Pharma Inc. The two companies have signed a definitive agreement under which Alexion will acquire 100% of the capital stock of Enobia. Under the terms of the agreement, Alexion has agreed to pay $610 million in cash upon consummation of the transaction, and up to $470 million in cash to be paid upon achievement of various regulatory and sales milestones.
Enobia is a private biopharmaceutical company based in Montreal, Canada and Cambridge, Massachusetts, which is focused on the development of therapies to treat patients with ultra-rare and life-threatening genetic metabolic disorders. Its lead product candidate ENB-0040 (asfotase alfa), is a human recombinant targeted alkaline phosphatase 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. Alexion will acquire full worldwide development and commercial rights to asfotase alfa. Asfotase alfa 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 of clinical development.
WilmerHale lawyers representing Enobia in this deal include Partners Hal Leibowitz, Jeffrey Hermanson, Belinda Juran, Amy Null, Roger Ritt; Counsel Kimberly Wade; and Associates Brett Budzinski and Meghan Walsh.