Fortress Biotech, Inc., a biopharmacompany focused on acquiring, developing and commercializing promising products and product candidates cost-effectively, and a company it founded, Caelum Biosciences, Inc., a biotechnology company developing treatments for rare and life-threatening diseases, closed AstraZeneca’s acquisition of Caelum for approximately $150 million.
 
The agreement also provides for additional potential payments to Caelum stockholders totaling up to $350 million, payable upon the achievement of regulatory and commercial milestones.
Caelum has two ongoing Phase 3 clinical trials for CAEL-101, a potentially first-in-class fibril-reactive monoclonal antibody (mAb) for the treatment of light chain (AL) amyloidosis.

AL amyloidosis is a rare disease in which misfolded amyloid proteins build up in organs throughout the body, including the heart and kidneys, causing significant organ damage and failure that may ultimately be fatal.

CAEL-101 is currently being evaluated in the Cardiac Amyloid Reaching for Extended Survival (CARES) Phase III clinical program in combination with standard-of-care (SoC) therapy in AL amyloidosis. Two parallel Phase III trials in patients with Mayo stage IIIa disease and in patients with Mayo stage IIIb disease respectively are ongoing.
 
Fortress is eligible to receive approximately 43 percent of all proceeds from the transaction.