Cincinnati Children’s, Alexion Pharmaceuticals establish ‘Rare Disease Innovation Fund’

Published on June 23, 2014 at 8:05 AM · No Comments

Alexion Pharmaceuticals, Inc. (Nasdaq:ALXN) and Cincinnati Children's Hospital Medical Center today announced the establishment of a collaboration and fund for the advancement of research in rare disease. Cincinnati Children's is a recognized center of excellence in pediatric rare diseases. Alexion is a global leader in the development and delivery of breakthrough therapies for patients with severe and life-threatening rare diseases. This collaboration leverages the collective expertise of a leading pediatric hospital with a leading biopharmaceutical company.

"Collaborations between industry and academia are important to drive innovation for patients suffering from rare diseases and we look forward to working with Cincinnati Children's to advance our research programs, which are focused on developing life-transforming therapies for patients with devastating disorders," said Martin Mackay, Ph.D., Executive Vice President and Global Head of Research and Development at Alexion. "Our Research and Development team is continually working to understand the pathophysiology of severe and rare diseases so that we can identify and investigate potential breakthrough therapies. Working with an institution with the research experience and capabilities of Cincinnati Children's will enhance our ability to accomplish this important goal."

"As an institution that not only treats and cares for patients suffering from rare diseases but is also intensely interested in discovering potential treatments for them, we look forward to the opportunity to work with a company like Alexion, which brings tremendous expertise and capabilities to the table," said Margaret Hostetter, M.D., incoming Chief Medical Officer of Cincinnati Children's and Director, Cincinnati Children's Research Foundation. "Our hope is that the Alexion Rare Disease Innovation Fund can serve as a model for how industry and academia can better work together to bring health innovations from the bench to the bedside."

Under the terms of the agreement, Alexion will have the opportunity to fund selected research programs through the Alexion Rare Disease Innovation Fund. Following completion of the funded research programs, Alexion will have an exclusive option to enter into a licensing agreement for these programs.

The Alexion Fund is a focused opportunity within Cincinnati Children's broader Innovation Fund, which covers all therapeutic areas and technology types. Alexion will focus its selections based on the company's specialty of developing new treatments for complex and rare diseases.

The company decided to collaborate with Cincinnati Children's because of the medical center's strength in rare- and complex-disease research. Research programs selected for the Alexion Fund will receive funding commensurate with project development needs and based on projects reaching specific milestones.

Upon entering into any subsequent licensing agreement, Cincinnati Children's will be eligible to receive certain development and commercial milestone payments, as well as royalties on product sales from Alexion. Alexion will have the primary responsibility for further clinical development and commercialization of products arising from the collaboration. The collaboration and Innovation Fund are managed by Cincinnati Children's Center for Technology Commercialization.

Source:

Cincinnati Children's Hospital Medical Center

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