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Alexion to license Eidos' rare disease therapy in Japan for $25M upfront

Alexion Pharmaceuticals Inc. will pay $25 million upfront to acquire an exclusive license for Eidos Therapeutics Inc.'s rare disease medicine AG10 in Japan.

Palo Alto, Calif.-based BridgeBio Pharma Inc., which owns about 66.6% of Eidos and has offered to acquire the remaining stake, said Eidos is evaluating AG10 to treat transthyretin amyloidosis, or ATTR. The condition involves abnormal deposition of a protein called amyloid in various parts of the body, which can impair body functions.

Under the agreement, Boston-based Alexion will acquire an exclusive license to develop and commercialize AG10 in Japan. In addition to the upfront payment, Eidos will receive a $25 million equity investment upon execution of the deal. Eidos may also receive Japan-based milestone and royalty payments linked to the drug.

San Francisco-based Eidos is evaluating AG10 in a phase 3 study in the U.S. and Europe to treat ATTR cardiomyopathy, a condition where the protein accumulates in the heart. The company also plans to begin a phase 3 trial in ATTR polyneuropathy, where the accumulation takes place in the peripheral nervous system. AG10 has received the U.S. Food and Drug Administration's orphan-drug designation to treat ATTR.