Zealand Pharma Shares Up 7% on Alexion Collaboration
March 20 2019 - 12:55PM
Dow Jones News
By Chris Wack
Shares of Zealand Pharma A/S (ZEAL) rose more than 7% to $17.33
after the company announced it was collaborating with Alexion
Pharmaceuticals (ALXN) to discover and develop novel peptide
therapies for complement-mediated diseases.
The deal provides Alexion with exclusive worldwide licenses, as
well as development and commercial rights, for up to four targets
within the complement pathway.
Zealand will lead the joint discovery and research efforts
through the preclinical stage, and Alexion will lead development
efforts beginning with IND filing and Phase 1 studies.
Alexion gets exclusive worldwide licenses and commercial rights
to the peptide therapies developed in the collaboration. Zealand
will receive an immediate upfront payment of $25 million for the
first target, with Alexion making a concurrent $15 million equity
investment in Zealand Pharma at a premium to the market price as of
the collaboration effective date.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 20, 2019 12:40 ET (16:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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