Alexion inks deal with Caelum Biosciences

US biotech Alexion Pharmaceutical (Nasdaq: ALXN) has reached agreement to develop CAEL-101, an amyloid fibril-targeted therapy for a rare disorder called light chain (AL) amyloidosis that leads to heart and kidney damage, developed by Caelum Biosciences.

Caelum was founded by Fortress Biotech (Nasdaq: FBIO), whose shares leapt as much as 59% on the news last week.

CAEL-101 is a first-in-class amyloid fibril targeted therapy designed to improve organ function by reducing or eliminating amyloid deposits in patients with AL amyloidosis. AL amyloidosis is a rare systemic disorder that causes misfolded immunoglobulin light chain protein to build up in and around tissues, resulting in progressive and widespread organ damage, most commonly to the heart and kidneys.