In a move that stands in stark contrast to the industry trend, AstraZeneca is investing in its future by expanding its R&D operations in Toronto with 500 new scientific and high-tech jobs. This significant commitment to innovation will create a wealth of opportunities for the local talent, ensuring that AstraZeneca remains a leader in the biopharma space.
As we approach Rare Disease Day on February 28th, AstraZeneca has taken a major step forward in the fight against rare diseases by creating the Alexion, AstraZeneca Rare Disease Development Hub. This new hub will focus on researching rare diseases, with the goal of advancing treatments and ultimately finding cures. With this initiative, AstraZeneca hopes to make a significant impact on the lives of those living with rare diseases.
In December 2020, AstraZeneca made a big move by acquiring Alexion, a leading drug developer for rare diseases, for an eye-watering $39 billion. This acquisition marks a major milestone for the pharmaceutical giant, as they seek to expand their product portfolio into the rare disease space and provide life-changing treatments to those who need it most.
AstraZeneca’s Research & Development Hub in Mississauga, a Toronto suburb, is growing stronger with an investment that will enable it to conduct clinical studies across a wide range of therapeutic fields. These include chronic kidney disease, COVID-19 and various forms of cancer, such as lung, prostate and breast. This investment will enable the hub to become a leading centre for research and development in the region.
AstraZeneca Canada is expanding, with an ambitious goal to develop groundbreaking treatments for rare, ultra-rare and complex diseases. According to Kiersten Combs, president AstraZeneca Canada, this expansion could potentially lead to cures and preventative treatments. It’s an exciting time for Canadians looking for innovative medical solutions.
AstraZeneca has made great strides in expanding its global presence in the past year. Most recently, the pharmaceutical giant has ventured into the Chinese market, building a new facility dedicated to discovering and developing treatments for rare diseases. This investment marks a significant milestone in AstraZeneca’s journey to provide innovative healthcare solutions to people around the world.
AstraZeneca is continuing to make bold business moves, having recently announced a pledge of up to $1.27 billion to acquire cancer player TeneoTwo. This acquisition has bolstered the company’s cancer portfolio with the addition of TeneoTwo’s T-cell engager TNB-486, which is in the early stages of development for both solid tumors and hematologic malignancies. It’s clear that AstraZeneca is determined to stay at the forefront of the cancer treatment market.
In October 2022, AstraZeneca strengthened its position as a leader in the rare disease space with an acquisition of LogicBio Therapeutics for an impressive $68 million. The buyout included LogicBio’s advanced gene editing platform GeneRide and gene delivery capsid platform sAAVy, further solidifying AstraZeneca’s commitment to innovative treatments for rare diseases.
AstraZeneca made a major move in November 2022, investing $320 million to acquire all of Neogene Therapeutics’ outstanding equity. This major buyout will further the development of T-cell receptor treatments against solid tumors, a breakthrough in the fight against cancer.
Rare Disease Rally
As we approach Rare Disease Day, the biopharma industry has seen remarkable advancements that have sparked optimism and hope for those living with rare diseases. From groundbreaking research to innovative treatments, the biopharma industry is unwavering in its commitment to finding solutions that improve the lives of those affected.
KemPharm, Inc. has undergone a major transformation and is now known as Zevra Therapeutics, Inc. This change was made to reflect the company’s mission of bringing potentially groundbreaking treatments to rare diseases with little to no existing options. Zevra’s current focus is on arimoclomol, an oral medicine that could potentially be a groundbreaking solution for Niemann-Pick type C disease. This rare and often fatal disorder causes a progressive deterioration of brain, liver, spleen and other organ functions.
CSL’s Hemgenix (etranacogene dezaparvovec) made history on Feb. 20 when it received conditional marketing authorization from the European Commission for the treatment of hemophilia B. This marked the first time a gene therapy had been approved for the rare blood disorder, having previously been granted the same approval by the FDA. With this milestone, Hemgenix is a revolutionary step forward in the treatment of hemophilia B.
On February 16th, the FDA approved Chiesi’s Lamzede (velmanase alfa-tycv) to treat alpha-mannosidosis manifestations outside the nervous system. Alpha-mannosidosis is an ultra-rare and progressive lysosomal storage disorder with symptoms ranging from chest pain and hearing loss to muscle weakness and cognitive issues. This is a major breakthrough for those suffering from this disorder, as it offers hope for more effective treatment and improved quality of life.