Following its acquisition by drug giant AstraZeneca, New Haven-born Alexion Pharmaceuticals is growing its drug pipeline, agreeing to pay up to $500 million for New Jersey-based Caelum Biosciences and its lead rare disease drug.
Alexion, which now operates as AstraZeneca’s rare disease unit, acquired a small stake in Caelum, with an option to buy it, in 2019.