AstraZeneca announced that MedImmune, its global biologics research and development arm, has acquired Michigan-based AlphaCore Pharma, an early stage biotechnology company in the early stages of developing an enzyme that can take bad cholesterol out of the body.
Terms were not disclosed. Medimune has become a key part of AstraZeneca’s strategy of developing new drugs. Over the next two years, the AstraZeneca site in north Wilmington wil lose 1,200 jobs, with some of those positions going to Medimmune’s campus in Gaithersburg, Md., outside Washington, D.C.
AstraZeneca paid $15 billion to buy Medimmune as a way to boost its drug development pipeline. However, the purchase has not lived up to earlier hopes. The company is now making Medimmune one of three research and development centers.
LCAT, an enzyme in the bloodstream, is a key component in the reverse cholesterol transport system, which is thought to play a major role in driving the removal of cholesterol from the body. The enzyme could also play a role in a rare, hereditary disorder.
“As the science in this area continues to evolve, we are committed to exploring unique pathways that could lead to new combination or standalone therapies for patients living with chronic and acute cardiovascular diseases,” said Dr. Bahija Jallal, executive vice president, MedImmune. “Cardiovascular disease is projected to remain the single leading cause of death worldwide over the next decade and beyond. Through novel approaches like LCAT, we hope to shift the treatment paradigms in this area to help prevent and treat these conditions.”
In 2012, a phase one clinical trial of the company’s work showed promising results.
