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ALEXION PHARMACEUTICALS COMPLETES INITIAL CLOSING OF $8 MILLION PRIVATE PLACEMENT

 NEW HAVEN, Conn., June 28 /PRNewswire/ -- Alexion Pharmaceuticals, Inc., today announced that it has completed the first stage of its current private placement, bringing in an additional $8 million of private equity to the company. The financing, led by D. Blech and Co., will fund continuing research and development of the company's complement inhibitor biopharmaceuticals, therapeutic cell and organ replacement programs, and protein drug delivery system.
 The complement system is a critical segment of the body's immune system and plays a key role in the inflammation associated with several important disease states. Examples include injury to the heart following myocardial infarction and the re-opening of blocked arteries (reperfusion injury), the severe hyperacute rejection of organs and cells following transplantation, and autoimmune diseases such as Rheumatoid Arthritis and Lupus which occur when the body's immune system attacks itself. Inhibitors of complement mediated inflammation are therefore considered to have very significant therapeutic potential. In addition to its exclusive license for the use of CD59, a naturally occurring complement inhibitor, Alexion scientists have discovered eight additional complement inhibitors in the past year which are being developed as anti-inflammatory pharmaceuticals.
 Alexion's cell engineering programs utilize the company's complement inhibitor and other anti-inflammatory technologies to develop cells which can then be used as therapeutic products in patients (e.g. to prevent reblocking of arteries after angioplasty) or as a delivery vehicle for protein therapy. Alexion's tissue engineering program employs similar technologies to develop non-human organs which, after transplantation, will not be rejected by the patient recipient.
 This financing brings the total equity raised by the company since its founding to $13 million. Several organizations participated in this stage of the financing including D. Blech & Co., Invesco, Schroder Ventures, Allen & Company, and the State of Connecticut through Connecticut Innovations, Inc.
 "We are very pleased to have been able to attract the interest of this highly regarded group of investors," said Leonard Bell, M.D., founder and chief executive officer of Alexion. "We believe our discovery and development of this portfolio of proprietary novel complement inhibitors places us at the forefront of research in the field of inflammation. This technology, together with the cell engineering technologies we have been able to bring in house, provide us with a broad spectrum of product opportunities. In addition, a number of our development projects are proceeding more quickly than expected and this financing will allow us to progress these projects in an effort to achieve commercialization at an optimal pace."
 Alexion Pharmaceuticals, founded in January 1992, is a private biopharmaceutical company headquartered in New Haven, concentrating on the research and development of novel biopharmaceuticals, cell and tissue therapies, and protein drug delivery systems.
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 /CONTACT: Leonard Bell, M.D., president and CEO, or David Keiser, executive vice president and COO, both of Alexion Pharmaceuticals, Inc., 203-776-1790; or Anthony J. Russo, Ph.D. of Noonan/Russo Communications, 212-979-9180, for Alexion Pharmaceuticals, Inc./


CO: Alexion Pharmaceuticals, Inc. ST: Connecticut IN: MTC SU:

LG-LR -- NY016 -- 6130 06/28/93 09:36 EDT
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Date:Jun 28, 1993
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