Life Sciences, deals, Antibodies

Alexion Settles Legal Dispute

Ryan McBride 1/5/09

Alexion Pharmaceuticals (NASDAQ:ALXN) reports it will pay $25 million to PDL BioPharma (NASDAQ:PDLI) to license a patent related to humanizing antibodies and to settle a legal dispute between the two companies. Cheshire, CT-based Alexion says the license enables the firm to commercialize its humanized antibody eculizumab (Soliris)—now approved to treat a rare blood disorder called paroxysmal nocturnal hemoglobinuria in the U.S. and Europe—for any use without threat of legal action by PDL BioPharma.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com.